Banknifty Intraday Analysis for 22nd August 2024

Aug 21BANKNIFTY

Index closed near 50805 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
51000 Strike – 17.33 Lakh
52000 Strike – 16.17 Lakh
51500 Strike – 10.82 Lakh

Put Writing
50500 Strike – 15.84 Lakh
50000 Strike – 11.71 Lakh
51000 Strike – 9.24 Lakh

Index has resistance near 51000 – 51100 range and if index crosses and sustain above 51100 level then may reach near 51600 – 51800 range.

Index has immediate support near 50400 – 50300 range and if this support is broken then index may tank near 50000 - 49800 range.

Aug 22

Trade closed: target reached

Gap up opening and faced resistance in 51000 - 51100 range and closed near 50950.