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RKMAURYA

Banknifty Intraday Analysis for 4th April 2024

Nifty Bank Index (NSE:BANKNIFTY)  
RKMAURYA Updated   
NSE:BANKNIFTY   Nifty Bank Index
Support and Resistance Supply and Demand Pivot Points
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supportandresistance supplyanddemand pivotpoints
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.
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