Banknifty Intraday Analysis for 01st November 2024

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BANKNIFTY

Index closed near 51475 level and Maximum Call and Put Writing near CMP as below in current weekly contract:

Call Writing
52000 Strike – 20.46 Lakh
53000 Strike – 19.70 Lakh
52500 Strike – 18.93 Lakh

Put Writing
51500 Strike – 11.10 Lakh
51000 Strike – 9.22 Lakh
52000 Strike – 7.62 Lakh

It is expected that the Index will be in a narrow range on Muhurat Trading Day.

Index has resistance near 51750 – 51800 range and if index crosses and sustains above this level then may reach near 52100 – 52200 range.

Index has immediate support near 51300 - 51200 range and if this support is broken then index may tank near 51000 - 50900 range.
Dagangan ditutup: sasaran tercapai
Gap up opening with high near 51825 and profit booking drag to close near 51675.
Supply and DemandSupport and ResistanceTrend Lines

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

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