BankniftyFuture last close: 38650.05 (+3.9%)
The Big News came just before the market opening then Bank index opened big gap like 700 points
The Hdfc and HDFCBank going to merge on 2nd quarter on 2022-2023
The Bankniftyfuture was opened 37855 and went to 38750
Biggest gain since the 17th May 2021 and index gained 3.9%
Hdfcbank was ended almost 9% gain and at one point of time the stock went to 14%
Hdfc ended almost 10% gain
All bank index shot up
Volatility index slipped below 19
Option premium melted due to low vix
The BankniftyFuture formed a second consecutive bullish candle on daily basis
As per open interest, PE was added more OI which was indicating a futher rally will be witnessed
However, The BankniftyFuture is facing a intraday resistance 38880 and 39000
If stays above 39000 will try to check 39300
On other side, BNF considering a supports 38430, 38300 and 38000
Updated: 08.23 am / 05th April 2022
