Banknifty Intraday Analysis for 26th July 2024

Jul 25

BANKNIFTY

Index closed near 50890 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
52000 Strike – 21.63 Lakh
51000 Strike – 16.92 Lakh
51500 Strike – 15.58 Lakh

Put Writing
51000 Strike – 15.18 Lakh
50000 Strike – 13.56 Lakh
51500 Strike – 13.08 Lakh

Index has resistance near 51100 – 51200 range and if index crosses and sustain above 51250 level then may reach near 51500 – 51700 range.

Index has immediate support near 50550 – 50500 range and if this support is broken then index may tank near 50200 – 50000 range.

Jul 26

Trade closed: target reached

Gap down opening with low near 50440 then bounced broked 51200 resistance and closed near 51350 level.