Banknifty Intraday Analysis for 11th September 2024

BANKNIFTY

Index closed near 51270 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
51500 Strike – 41.21 Lakh
52000 Strike – 32.65 Lakh
51300 Strike – 24.89 Lakh

Put Writing
51000 Strike – 33.70 Lakh
50000 Strike – 31.08 Lakh
50500 Strike – 28.44 Lakh

Index has resistance near 51500 – 51600 range and if index crosses and sustains above 51600 level then may reach near 51850 – 52000 range.

Index has immediate support near 50750 – 50650 range and if this support is broken then index may tank near 50300 - 50200 range.