Bank Nifty trades near 25K ahead of expiry

India Infoline News Service | Mumbai | September 14, 2017 09:38 IST

Bank Nifty index sees support at 24,700 while 25,000 will act as resistance on the upside.

Bank Nifty index opened at 24,857 level, up by 26 points in the Thursday’s trading session. It surged upwards in the early hour to trade near the important mark of 25,000. Axis Bank was top gainer in the index trading at Rs 505.05 per share, up by 1.15%. IDFC Bank was top second gainer trading at Rs 59.5 per share, up by 1.02%.
 
All the other Bank Nifty constituents are trading in positive territory. Bank Nifty’s weekly contracts are going to expire on Thursday.
 
On the derivatives front, Bank Nifty 14-Sept 25,000 CE and 24,800 PE have added maximum open positions. Maximum open interest was seen at the strikes of 25,000 CE and 24,700 PE. Therefore, the index sees support at 24,700 while 25,000 will act as resistance on the upside.
 
Bank Nifty futures of September series were trading at discount of 8 points while the futures of October and November series were trading at premiums of 42 and 84 points respectively.
 
Meanwhile, Nifty was trading at 10,115 level, up by 36 points while Sensex was trading at 32,297 level, up by 110 points as of 0937 hours on Thursday.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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