Bankex Analysis for 12-08-2024: Support & Resistance Levels
On August 9, 2024, the Bankex index displayed a steady performance, opening at 57,746.91 points and reaching a high of 57,747.73 points. The index's lowest point during the day was 57,322.54 points, and it ultimately closed at 57,458.68, representing a 0.74% increase from the previous close of 57,033.81. This positive movement highlights the resilience and sustained confidence in the banking sector, despite broader market fluctuations.
**Considering the recent allegation imposed by Hindenberg on the Chairperson pf Indian regulatory authority this Saturday, the outlook for Bankex remains caution full. Market can go either sideways of can be extremely volatile.
Technical Indicators for Bankex:
Max Pain: 57,400
PCR (Put-Call Ratio): 0.76 Neutral to Bearish
IV (Implied Volatility): 11.77 as of the closing on 09-08-2024.
Support Levels
57,000 PE (Put) Strike: This level shows significant support with an OI of 8,182 contracts.
57,400 PE Strike: Moderate support is observed at this level with 3,855 contracts.
57,500 PE Strike: Another critical support level with 4,317 contracts.
Resistance Levels
58,000 CE (Call) Strike: This is the primary resistance level with the highest OI of 10,246 contracts.
57,500 CE Strike: Another resistance level at 6,390 contracts.
57,800 CE Strike: Further resistance with 4,016 contracts.
Top Gainer: Canara Bank (CANBK) emerged as the top gainer, with its share price increasing by 3.17%.
Top Loser: Kotak Mahindra Bank (KOTAKBANK) was the top loser, with its share price declining by 0.2%.
Stay tuned for more updates on Bankex prediction to navigate the volatile market conditions effectively.
Disclosure: The publisher of this idea is not a SEBI registered analyst. The information shared here is solely for educational purposes and should not be interpreted as financial advice. Always consult with a qualified financial advisor before making any investment decisions. The publisher does not endorse social media shares on any platform.
**Considering the recent allegation imposed by Hindenberg on the Chairperson pf Indian regulatory authority this Saturday, the outlook for Bankex remains caution full. Market can go either sideways of can be extremely volatile.
Technical Indicators for Bankex:
Max Pain: 57,400
PCR (Put-Call Ratio): 0.76 Neutral to Bearish
IV (Implied Volatility): 11.77 as of the closing on 09-08-2024.
Support Levels
57,000 PE (Put) Strike: This level shows significant support with an OI of 8,182 contracts.
57,400 PE Strike: Moderate support is observed at this level with 3,855 contracts.
57,500 PE Strike: Another critical support level with 4,317 contracts.
Resistance Levels
58,000 CE (Call) Strike: This is the primary resistance level with the highest OI of 10,246 contracts.
57,500 CE Strike: Another resistance level at 6,390 contracts.
57,800 CE Strike: Further resistance with 4,016 contracts.
Top Gainer: Canara Bank (CANBK) emerged as the top gainer, with its share price increasing by 3.17%.
Top Loser: Kotak Mahindra Bank (KOTAKBANK) was the top loser, with its share price declining by 0.2%.
Stay tuned for more updates on Bankex prediction to navigate the volatile market conditions effectively.
Disclosure: The publisher of this idea is not a SEBI registered analyst. The information shared here is solely for educational purposes and should not be interpreted as financial advice. Always consult with a qualified financial advisor before making any investment decisions. The publisher does not endorse social media shares on any platform.
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