BankniftyFuture last close: 24931 (+4.2%)
What a amazing day of Banknifty………. Index rose more than 1000 points
Index opened at 24245 then made a low of 24100 then shot up to 25163.45
Icicibank, Axisbank, SBIN, Kotakbank, Hdfcbank and Indusindbank was gained 4% to 10%
Icicibank came good results and stock gained more than 6% but, Indusindbank was reported below expectation earnings report…….. But Indusindbank rose 9%
Option premium is too high on yesterday ahead of VIX above 26
SGXNifty indicate a positive opening for the index and followed by bank index also will open positive note. But volatility will be continued during the day.
Today BankniftyFuture is facing a intraday resistance at 25120 and 25270 which was placed on Aug month high
Once if breaks and manages above 25270…….. Rally will be continued up to 25550+
Today BNF can be considered as supports as 24850, 24720 and 24570
Below 24570……….. Finding a next support around 24300
Don’t short at very lower levels!!
More live market update will be sent to my clients only
Updated: 08.33 am / 03rd Nov 2020
