Bankniftyfuture last close: 35524.25 (+0.2%)
BankniftyFuture was consolidated almost 3 hours around 35300
In last 45 minutes, BNF was climbed more than 250 points to 35560
Yesterday I did mention BNF support at 35150 and index did not break given support
Volatility index around 17
Option premium was seen too low
PSU banks did well and especially SBIN did very well
BankniftyFuture will be opened 150-200 points gap up likes 35650-35700
However, In past 4 sessions BNF was struggled around 35700-35800
As per OI 35500CE was seen huge OI and followed by 36000CE. Hence 35500CE writing is very dangerous as well as buying is good
On PE side 35000PE was seen huge OI and short sellers sell 35000PE maybe this PE going to worthless!!
Let’s see today’s trend………. BNF is facing a intraday resistance 35600, 35700 and 35830
Above 35830……….. Will try to move 36000-36150
BNF can be considered as supports as 35420, 35300 and 35150
Every declined is being buying opportunity!!
More live market update will be sent to my clients only
Updated: 08.39 am / 03rd June 2021
