Banknifty Intraday Analysis for 4th April 2024
Updated
BANKNIFTY Highest Call writing at 48000 strike with 11.46 Lakh Contract and Put writing at 47500 strike with 14.40 Lakh. 2nd highest Call writing of 9.71 Lakh at 47500 Strike and Put writing of 7.54 Lakh at 47000 strike.
If Index crosses 47750 and sustain then it may go near 48000 level. Trailing SL near 47650
If Index down below 47400 then index may go near 47000 . This scenario is less likely but anything can happen.
Trade closed: target reached
Gap up opening above target of 48200 then tank to support near 47750 and again long position initiated near 47750 and closed near 48125 level. Index moved more than the anticipated range. Good Profit made.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
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