Quote on Bank Nifty : The index successfully surpassed the immediate hurdle of 44000 Says Kunal Shah, LKP Securities
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Below View on Bank Nifty 29 May 2023 By Kunal Shah, Senior Technical & Derivative Analyst at LKP Securities
The Bank Nifty index continued to be dominated by bulls as they maintained their grip on the market. The index successfully surpassed the immediate hurdle of 44000, indicating the strength of the bullish trend. The next resistance level on the upside is now identified at 45000.
In terms of options data, the highest open interest for put options is observed at 43500, suggesting that traders have significant interest in that strike price as a potential support level. On the other hand, the highest open interest for call options is seen at 45000, indicating that traders anticipate potential resistance at that level.
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