Banknifty Intraday Analysis for 22nd May 2024

BANKNIFTY

Highest Call writing of 37.53 Lakh at 48000 strike followed by 30.81 Lakh at 48200 strike and 29.67 Lakh at 48500 strike. Highest Put writing of 32.86 Lakh at 48000 strike followed by 27.85 Lakh at 47000 strike and 20.12 Lakh at 47500 strike. Index closed near 48050 level.

Index is facing resistance near 48250 level and if crosses and sustain above 48250 level and may reach near 48500 and if crosses 48600 level then may reach near 49000 level.

Index has support near 47900 level and if 47900 support level broken then index may reach near 47650 level.

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Open flat and broked 47900 support level and made low near 47440 level but bounced and managed to close above 47900 support level.