01st March 2023 #Banknifty (spot) Intraday Levels and Pre-Market Reports

Banknifty last close: 40269.05 (-0.1%)

On Tuesday, Banknifty was seen strong consolidation with marginally negative bias
Banknifty was opened 40300 and went to 40390 then slipped to 40073 again shot up to 40270
Hdfcbank did well
PSUBank index fell around 1%
VIX sustained around 14
Option premium was ended very low due to low VIX
40000PE added more OI and 40300CE, 40500CE was seen high OI
Below 40000 more trouble for option short sellers

Banknifty is facing a intraday resistance 40330, 40400 and 40550
Stay caution at higher levels!! Avoid fresh buy at higher levels!!

On other side, Banknifty can be considered as supports as 40200, 40150 and 40000
Below 40000 will try to check 39850-39700

Updated: 08.36 am / 01st March 2023