BankniftyFuture last close: 34673.15 (-0.1%)
On Friday, BankniftyFuture was seen consolidated with range but shown weakness
BNF was opened at 34800 and fell up to 34545 again went to 34800 and sustained
There is no strength at higher levels on last three sessions
Hdfcbank, Sbin, and Axisbank seen selling pressure
VIX fell 5% and option premium was seen very low
BNF OI increased by 6.95% and formed a long unwinding
FIIs have sold Rs 1884 crore in index future
SGXNifty indicate a gap up opening for the index and BNF also will open gap up
BNF weekly trend decider is 34450 and 35200.
Today BNF is facing a intraday resistance 34770 and 34850
Once if breaks and holds above 34850, then will move 35030 and 35200
Major resistance around 35200.
BNF can be considered as supports as 34630 and 34500
Don’t short at very lower levels!!
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Updated: 08.29 am / 02nd Aug 2021
