BankniftyFuture last close: 23547.20 (-1.6%)
Yesterday Bankniftyfuture was seen huge volatility and closed 1.6% lower
BNF opened at 23938 and went up to 24080 then dropped 23453. Finally settled at 23547
Index did not sustained opening levels and seen selling pressure at higher levels
I recommend 23800PE at 85 and booked profit at 220. Money doubled!!
Private banks Axisbank, Icicibank, and Kotakbank fell 1.50% to 2.5%
Hdfcbank fell marginally at 0.4% and SBIN, Indusindbank dropped 1.5% respectively
SGXNifty indicate a gap down opening followed by bank index will open gap down
Yesterday BNF has formed a strong bearish candle and closed near by day’s low
Today BankniftyFuture can be considered as supports as 23350-23400 which was recent swing low formed on 31st Aug
If stays below 23350…….. expecting more selling pressure up to 23050-23150 thereafter will try to check next support around 22800
Today BNF is facing a resistance at 23500, 23640 and 23750
Same mantra…………. If rise can sell
More live market update will be sent to my clients only
Updated: 07.56 am / 04th Sept 2020
