[INTRADAY] #BANKNIFTY PE & CE Levels(21/08/2024)

🔔 Bank Nifty Update for Today’s Expiry Session:

📈 Gap-Up Opening Expected:

Expected Opening Level: Near 51000
Key Level: 51050
Potential Upside Target: 51450+
Today, Bank Nifty is anticipated to open with a gap up near the 51000 level. If the index sustains above this level after opening and starts trading above 51050, we could see a strong upside rally of 400-500 points, potentially reaching up to 51450+ during today’s expiry session.

📉 Watch for Downside Risks:

Critical Reversal Level: 50950
Support Level: 50550
Major Downside Level: 50450
However, if Bank Nifty fails to sustain above 51000 and shows signs of reversal around 50950, downside movement is possible. The 50550 level will act as support for today’s session, with a major downside expected only if the index breaks and starts trading below 50450.