Banknifty Intraday Analysis for 04th June 2024
BANKNIFTY Highest Call writing near CMP is at 52000 strike of 20.09 Lakh followed by 19.21 Lakh at 51000 strike and 13.62 Lakh at 51500 strike. Highest Put writing of 14.13 Lakh at 49000 strike followed by 14.00 Lakh at 50000 strike and 8.72 Lakh at 50500 strike. Index closed near 50980 level. Volatility will be high due to General Election result on 4th June.
Market will be volatile on the General Election counting day and expected to open higher. Highest Call writing at 52000 level. Index may reach this level or cross it if 400+ seats secured by BJP.
Index has support near 50000 level. If BJP could not make government or marginal majority, then Index may tank to 49000 level or below it.
Trade closed: target reached
Index tanked due to poor performance of BJP in General election and Index tanked around 5000 points but managed to recover and closed near 47200 level.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
Request for follow on X @rkmaurya_ra
Request for follow on X @rkmaurya_ra
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.
Request for follow on X @rkmaurya_ra
Request for follow on X @rkmaurya_ra
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.