Bank Nifty Spot View For: 22/06/2023
CMP: 43859.20
Moving AVG (EMA) 20 Hour & 40 Hour: 43747 & 43761
Moving AVG (EMA) 20 Day & 40 Day: 43836 & 43486
Support & Downside Range: 43785—43690—43250--43100
Resistance & Upside Range: 43950—44110--44250
Short Term Trend Reversal Level: -- 44500
Trading View: Bank nifty entire up move from recent low of 43345 looks corrective as of now as pattern is incomplete now here key support to watch is 43785—43690 spot as long as this holds bank bulls may try to move upside towards 43950 to 44100 here it may face a resistance ahead of expiry whereas if bank nifty break and sustain below 43785—43690 spot for 15-30 mins then selling pressure builds and we may again fall downside towards 43250 to 43100 levels in days to come.
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Update Banknifty live options update : CMP 43858 as per this data highest and strong call writing standing at 43900 & 44000 strikes whereas put writing standing at 43700/43800 strikes now upside today's high is crucial rest if this gets break then only short covering we may see by 43900 & 44000 call writers whereas if bank nifty manage to break 43775 to 43690 then put writers of 43700—43800 comes in pressure which may lead bank nifty downside towards 43600-43500 zone, and if bank nifty does not break today's high and 43775-43690 then bank nifty may remain in range and 43700/43800/43900 strikes calls and puts have chance of getting zero..
