BankniftyFuture last close: 38159.15 (-1.7%)
On Monday, BankniftyFuture was seen huge selling pressure
BNF was opened 38705 and went to 38810 then dropped to 38086
All Bank stocks visible selling pressure
Bank index slipped 1.7%
VIX shot up to around 21.30
Option premium sustained
CE side highest OI seen at 38500CE and 39000CE
PE side 37500PE added more OI
BanknifytFuture was formed bearish candle as well as inside bar
However, Overall if breaks and closes above last Friday’s high (39000) looks good
Anyway, Today BankniftyFuture is facing a intraday resistance at 38360 and 38550
If breaks and manages above 38550 will try to check 38800 and 39000
On other side, BNF can be considered as supports as 38200, 38100 and 37950
Below 37950……. Finding a next supports 37750-37500
Updated: 08.38 am / 04th Oct 2022
