05th Aug 2022 #BankniftyFuture Intraday Levels and Pre-Market Reports

BankniftyFuture last close: 37771.50 (-0.7%)

On Thursday, BankniftyFuture was seen huge volatile
BankniftyFuture was opened gap up at 38160 and went to 38270
Thereafter BNF was slipped from 38100 to 37288 again shot up to 37770
Psubank index fell almost 1.5%
Private banks was seen selling pressure
VIX shot up to 19.50
Option premium seems high due to RBI Policy

RBI Governor to announce its decision on Aug 5 at 10 am
My expectation is RBI likely to raise the repo rate by at least 30 bps to 50 bps

However, BankniftyFuture is facing a intraday resistance 37850, 37960 and 38100
After Policy, BNF if sustains above 38100 finding a next resistance around 38300

On flip side, BNF can be considered as supports as 37600, 37500 and 37250
Below 37250, Finding a next support around 36950

Updated: 08.40 am / 05th Aug 2022