Open 21354 High 22061 Low 21281 Close 21977
Banknifty opened with a gap down of 21 points at 21354 levels and touched a low of 21281 on the first five minute candle which also turned out to be the lowest point of the day.
As expected Banknifty took support at important support levels of 21280-21300 and trended upwards for the rest of the day with small pullbacks in between.
Banknifty rallied 710 points from day low levels to touch a day high level of 22061 at around 1 pm.
Banknifty closed the day at 21977 up 607 points or 2.84 percent
21000 will act as crucial support levels whereas 23000 will act as heavy resistance area. A big move will come only when 20000 breaks on the downside or 23000 breaks on the upside.
Market Breadth Banknifty
Advances 10 Declines 2
The highest gainer among Banknifty index was Axis Bank up 6.34 percent and biggest loser was Kotak Bank down 1.14 percent
FNO Data Analysis
Banknifty July Futures are trading at a discount of 122 points.
For July 2 expiry
Highest open interest Call side is at 22000 ce around 7.59 lakh shares
Highest open interest Put side is at 20500 pe around 6.21 lakh shares
Huge amount of put writing at 21500 ce means 21500 will act as strong support level for Banknifty