Last close: 34870.35 (-4.6%)
BankniftyFuture was tumbled 4.6% on Friday
BNF was opened 36000 then gradually slipped up to 34660 and finally settled at 34870
All front line banks slipped more than 4%
Kotakbank dropped 6% and PSU bank index down 4%
Option premium was closed at higher levels
ATM straddle above 1300, Do you know ? Normally ATM straddle on Friday around 900
SGXNifty indicate a gap up opening and BNF also followed will be opening higher levels
However, BNF was formed a big bearish candle on Friday which indicate a selling signal
Today BNF is facing a intraday resistance 35130 and 35250
If sustains above 35250………. Then will move up to 35550
But, Stay caution at higher levels and create short selling with a stop of 35750
BNF can be considered as supports as 34740, 34650 and 34450
Thereafter will check 34000
Don’t short at very lower levels!!
More live market update will be sent to my clients only
Updated: 08.33 am / 01st March 2021
