BankniftyFuture last close: 36261.65 (-0.4%)
On Monday, BankniftyFuture was seen highly volatile with a range of 1000 points
BNF was opened 36076 and made a low of 35655.20 then spiked to 36344
Finally the BankniftyFuture was ended 0.4% down at 36261.65
Hdfcbank was seen selling pressure and under perform
Axisbank declined 2% while Icicibank gained 1.75% on Monday
Volatility index spiked 7% to 28.50
Option premium was seen too higher
Banknifty 35000PE was traded almost 250 points
Put premium was seen too much higher and CE premium seen very low
Which was indicating more fear on market!!
SGXNifty indicates a gap down opening for the index and Bank index also will open gap down
However, BankniftyFuture can be considered as supports as 36050, 35880 and 35650
Below 35650 will try to check 35500-35200
Last Thursday low was 35200……. Below the level expecting more pain!!
On other side, BNF is facing a intraday resistance 36350 and 36500
Above 36500 will try to check 36800
Stay caution at higher levels!!
More live market update will be sent to my clients only
Updated: 08.16 am / 02nd March 2022
