BankniftyFuture last close: 38807.35 (+3.1%)
On Friday, BankniftyFuture was rallied more than 3%
BNF was opened 37860 and made a low of 37580 then spiked up to 38988
RBI hiked 50 bps interest rates and reduced GDP from 7.2% to 7%
BNF was dropped almost 4000 points from recent peak
Private banks did very well on Friday
Bank index slipped around 2% on last week
VIX ended below 20
This week BankniftyFuture trend decider 39300 and 37500
Today BankniftyFuutre is facing a intraday resistance 38930 and 39100
If breaks and manages above 39100 then will try to check 39300
Stay caution at higher levels!! Don’t jump and buy!!
On other hand, BNF can be considered as supports as 38700, 38550 and 38400
Below 38400 finding a next support around 38000
Updated: 08.34 am / 03rd Oct 2022
