Banknifty Intraday Analysis for 31st December 2024

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BANKNIFTY

Index closed near 50955 level and Maximum Call and Put Writing near CMP as below in January Month contract:

Call Writing
52000 Strike – 13.25 Lakh
51500 Strike – 8.19 Lakh
51000 Strike – 5.66 Lakh

Put Writing
51000 Strike – 8.99 Lakh
51500 Strike – 8.88 Lakh
50000 Strike – 7.32 Lakh

Index has resistance near 51400 – 51500 range and if index crosses and sustains above this level then may reach near 52000 – 52200 range.

Index has immediate support near 50600 - 50500 range and if this support is broken then index may tank near 50000 - 49900 range.
Trade chiuso: obiettivo raggiunto
Gap down opening and made low to 50600 then bounced to high near 50945 with close near 50860.
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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