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RKMAURYA

Banknifty Intraday Analysis for 03rd June 2024

Long
Nifty Bank Index (NSE:BANKNIFTY)  
RKMAURYA Updated   
NSE:BANKNIFTY   Nifty Bank Index
Support and Resistance Supply and Demand Trend Lines
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supportandresistance supplyanddemand trendline
BANKNIFTY

Highest Call writing near CMP is at 50000 strike of 19.93 Lakh followed by 11.33 Lakh at 49000 strike and 4.69 Lakh at 49500 strike. Highest Put writing of 11.74 Lakh at 48500 strike followed by 9.60 Lakh at 49000 strike and 8.81 Lakh at 48000 strike. Index closed near 48980 level. Volatility will be high due to exit poll outcome and General Election result on 4th June.

Gap up opening expected around 49500 – 49600 range and if Index crosses and sustain above 49600 level then may reach near 50000. Profit booking expected on higher level in the last trading session due to election result on 4th June.

Index has support near 48300 – 48500 range and if 48300 support level broken then index may reach near 47900 47800 range.
Trade closed: target reached:
Gap up opening above 50900 level and closed above 51100 level.
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