Open 21730 High 21806 Low 21375 Close 21640
Banknifty opened with a gap up of 84 points at 21730 levels and touched a day low level of 21375 on the second five minute candle which also turned out to be the lowest point of the day.
Banknifty tradedin a range throughout the afternoon session 21500 on the downside and 21700 on the upside. .
Banknifty closed the day at 21640 down 6 points or 0.03 percent.
It looks like Banknifty has given a bullish breakout above 22000 levels. From here Banknifty may rally towards 23000-23500 levels. A break of 21300 levels will mean that this breakout has failed. A buy on dips strategy can be quite fruitful.
Market Breadth Banknifty
Advances 8 Declines 4 Unchanged 0
The highest gainer among Banknifty index was SBI up 2.41 percent and biggest loser was HDFC bank up 1.49 percent.
FNO Data Analysis
Banknifty Aug Futures are trading at a premium of 55 points.
For July 30 expiry
Highest open interest Call side is at 22500 ce around 7.70 lakh shares
Highest open interest Put side is at 21000 pe around 5.60 lakh shares
Huge amount of call writing at 22500 ce means 22500 will act as strong resistance level for Banknifty