Banknifty Intraday Analysis for 9th August 2024

Index closed near 50155 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
51000 Strike – 16.35 Lakh
50500 Strike – 14.46 Lakh
51500 Strike – 12.44 Lakh

Put Writing
50000 Strike – 14.58 Lakh
49000 Strike – 9.03 Lakh
49500 Strike – 6.86 Lakh

Index has resistance near 50500 – 50700 range and if index crosses and sustain above 50700 level then may reach near 51000 – 51100 range.

Index has immediate support near 49700 – 49600 range and if this support is broken then index may tank near 49200 – 49000 range and if 49000 support is broken then index may tank to 48500 – 48400 range.

Trade closed: target reached

Gap up opening but could not sustain above 50500 - 50700 resistance range.

RKMAURYA

Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.

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RKMAURYA

Disclaimer: Above discussion is not a Buy or Sell recommendation. This is only for educational purpose.

Request for follow on X @rkmaurya_ra

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