[INTRADAY] #BANKNIFTY PE & CE Levels(09/08/2024)

Market Outlook for Bank Nifty:

Opening: Expected to open with a gap up near the 50,500 level.

Potential Reversal: After opening, a reversal at the 50,500 level could continue the bearish trend.

Downside Potential: If a reversal is confirmed if banknifty starts trading below 50450 level, a downside rally of 400-500 points could occur after that.
Extended Downside: The rally might extend by an additional 400-500 points if Bank Nifty trades below the 49,950 level.
Upside Potential: Any upside rally is only anticipated if Bank Nifty sustains and trades above the 50,550 level.