Open 22486 High 22554 Low 22080 Close 22267
Banknifty opened with a gap down of 258 points at 22486 levels and touched a high of 22554 on the first five minute candle which also turned out to be the highest point of the day.
Banknifty continued its downtrend in the morning and afternoon session by falling 406 points from opening levels to touch a day low level of 22080 at around 2.15 pm. Banknifty recovered 221 points from day low levels in the late afternoon session to close the day at 22267 down 477 or 2.10 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 1 Declines 11 Unchanged 0
The biggest gainer among Banknifty index was Indus Ind Bank up 1.45 percent and biggest loser was SBIN down 4.09 percent.
FNO Data Analysis
Banknifty Sep Futures are trading at a premium of 108 points.
For Sep 10 expiry
Highest open interest Call side is at 23000 ce around 14.62 lakh shares
Highest open interest Put side is at 22000 pe around 10.73 lakh shares
Huge amount of call writing at 23000 ce means 23000 will act as strong resistance for Banknifty