Banknifty Intraday Analysis for 12th August 2024
Updated
BANKNIFTY Index closed near 50485 level and Maximum Call and Put Writing near CMP as below in current weekly contract:
Call Writing
50500 Strike – 19.53 Lakh
51000 Strike – 18.95 Lakh
51500 Strike – 14.69Lakh
Put Writing
50000 Strike – 16.98 Lakh
49500 Strike – 13.49 Lakh
50500 Strike – 13.12 Lakh
Index has resistance near 50650 – 50750 range and if index crosses and sustain above 50750 level then may reach near 51000 – 51100 range.
Index has immediate support near 50100 – 50000 range and if this support is broken then index may tank near 49700 – 49600 range and if 49000 support is broken then index may tank to 49000 – 48800 range.
Trade closed: target reached
Gap down opening with low near 50150 then bounced to high near 50830 level with close near 50580.
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