01st March 2021 #BankniftyFuture Intraday Levels

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!!

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Updated: 08.33 am / 01st March 2021