BankniftyFuture last close: 38113.75 (+0.8%)
On Monday, BankniftyFuture was opened gap up then slipped 500 points then recovered
BNF was opened 38200 and went to 38296 then slipped to 37757 again shot up to 38150
PSUBanks did very well
SBIN nearby all time high
Canbank and BOB did very well
Volatility index spiked 5% and settled around 21.75
Option premium seems too high due to Budget event
SGXNifty indicates gap up opening for the index and likely to witness highly volatile will be expected during the day
As per open interest side… There is no significant OI on both sides
Which is indicated stay caution at both sides
However, BankniftyFuture is facing a intraday resistance 38300 and 38500
Once if breaks and manages above 38500 then will try to check 38800 – 39000
Strong crucial resistance around 39000
Thereafter expecting more rally if sustains above 39000
On other side, BNF can be considered as supports as 38000 and 37750
Below 37750 then will try to check 37400 and 37250
More live market update will be sent to my clients only
Updated: 08.30 am / 01st Feb 2022
