There has been a sharp fall in Nifty and Bank nifty today (02 August 2023) as a result the Option prices got doubled and tripled within 2 hours and traders have made good profits in Bank nifty Futures & Options.
BANKNIFTY 03AUG23 45500 PE Analysis
Yesterday BANKNIFTY 03AUG23 45500 PE price closed at 114 and today as bank nifty opened gap down, so the option price directly opens at 220.
After that the market have given one way move towards the downside and premium made a new high of 543 in next two hours.
Next Support And Resistence Levels for Banknifty BANKNIFTY 03AUG23 45500 PE
Next target for the BANKNIFTY 03AUG23 45500 PE is 660 and you can stay into the position till the price is above 500.
Note: I am sharing these levels based on my own analysis. Please try them only on your paper trading app.
