Banknifty Intraday Analysis for 23rd July 2024

Index closed near 52280 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
53000 Strike – 14.89 Lakh
52500 Strike – 14.84 Lakh
52300 Strike – 10.87 Lakh

Put Writing
52000 Strike – 9.74 Lakh
51500 Strike – 9.34 Lakh
51000 Strike – 8.43 Lakh

Index has resistance near 52700 – 52800 range and if index crosses and sustain above 52850 level then may reach near 53200 - 53300 range. If Index crosses and sustain above 53300 level, then may reach near 53500 level.

Index has immediate support near 52100 – 52000 range and if this support is broken then index may tank near 51700 level and if 51700 support is broken then index may tank to 51300 – 51100 range.

Budget Day experience high volatility.

交易結束：目標達成

Highly volatile day due to Budget. Index tanked to low near 51340 and bounced back quickly to close above 51760 level.