01st Feb 2023 #BankniftyFuture Intraday Levels and Pre-Market Reports

Bankniftyfuture last close: 41063.15 (+0.9%)

On Tuesday, BankniftyFuture was seen range with positive bias
BNF was opened 40850 and fell to 40470 then spiked to 41170
Finally BankniftyFuture was ended 0.9% gain
Icicibank and Axisbank did well
Hdfcbank was seen selling pressure
PSUBank index climbed around 2%
SBIN, BoB and PNB did very well
VIX fell 4% to settled around 16.60

As per OI data not seen any significant OI due to Budget event
However, the Option premium was seen too high and the premium will be melting during the Budget
Example : At The Money short straddle rate was around 980 on Tuesday closing
Today will be melting around 500-600 points and will end around 400-500

However, BNF is facing a intraday resistance 41160 and 41275
If breaks and manages above 41275 will try to move 41450-41600 levels

On other side, BNF can be considered as supports as 40930 and 40850
Below 40850, finding a next support around 40650 and 40400

Updated: 08.19 am / 01st Feb 2023