Open 22466 High 22678 Low 22225 Close 22466
Banknifty opened with a gap up of 199 points at 22466 levels and touched a high of 22482 on the first five minute candle which also turned out to be the highest point of the day.
Banknifty continued its uptrend in the morning session by rallying 212 points from opening levels to touch a day high level of 22678 at around 11.42 am. Banknifty faced heavy resistance at 22700 – 22680 levels and fell 450 points from day high levels to touch a day low level of 2225 at around 1.26 pm.
Banknifty closed the day at 22466 up 199 points or 0.89 percent.
Banknifty may trade in a range of 2000 points now 22000 on the downside and 24000 on the upside. A big move will come only when this range is broken.
Market Breadth Banknifty
Advances 10 Declines 2 Unchanged 0
The biggest gainer among Banknifty index was IDFC First Bank up 4.76 percent and biggest loser was Kotak Bank down 0.43 percent.
FNO Data Analysis
Banknifty Sep Futures are trading at a premium of 67 points.
For Sep 17 expiry
Highest open interest Call side is at 23000 ce around 4.12 lakh shares
Highest open interest Put side is at 21000 pe around 5.25 lakh shares
Huge amount of call writing at 22500 ce means 22500 will act as strong resistance for Banknifty