Open 22683 High 22757 Low 22028 Close 22101
Banknifty opened with a gap up of 204 points at 22683 levels and touched a high of 22757 on the first five minute which also turned out to be the highest point of the day.
Banknifty faced stiff resistance at 22700-22750 levels and trended downwards throughout the rest of the day. Banknifty fell 730 points from morning high level to touch a day low level of 22028 just before the closing bell.
Banknifty closed the day at 22101 down 378 points or 1.68 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 2 Declines 9 Unchanged 1
The biggest gainer among Banknifty index was Federal Bank up 2.99 percent and biggest loser was Bandhan Bank down 4.43 percent.
FNO Data Analysis
Banknifty Sep Futures are trading at a premium of 53 points.
For Sep 17 expiry
Highest open interest Call side is at 23000 ce around 12.66 lakh shares
Highest open interest Put side is at 21000 pe around 8.28 lakh shares
Huge amount of call writing at 23000 ce means 23000 will act as strong resistance for Banknifty