Banknifty Analysis 15.9.2020

Banknifty 5 Min Intraday Chart 15.9.2020
Banknifty 5 Min Intraday Chart 15.9.2020

Open 22202 High 22514 Low 22062 Close 22465

Banknifty opened with a gap up of 101 points at 22202 levels and touched a low of 22062 on the first five minute which also turned out to be the lowest point of the day.

Banknifty trended upwards throughout the day with pullbacks in between. Banknifty rallied 312 points from opening levels to touch a day high level of 22514 just before the closing bell.  

Banknifty closed the day at 22465 up 364 points or 1.65 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 11 Declines 1 Unchanged 0

The biggest gainer among Banknifty index was lndus Ind Bank up 4.68 percent and biggest loser was PNB down 1.04 percent.

FNO Data Analysis

Banknifty Sep Futures are trading at a premium of 133 points.

For Sep 17 expiry

Highest open interest Call side is at 22500 ce around 11.14 lakh shares

Highest open interest Put side is at 22000 pe around 8.95 lakh shares

Huge amount of put writing at 22200 ce means 22200 will act as strong support for Banknifty

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