BankniftyFuture last close: 32422.55 (-0.7%)
BankniftyFuture was opened 32755 and went to 33206 then dropped and made a low of 32316.50 on May 4
Banknifty slipped almost 900 points from day’s high to low
Yesterday recommended to my clients 32000PE @ 150 and went to 300+
Everyday Bank index was moved more than 1000 points in last 2 months. But VIX is sustains around 21-24 in mean time. Surprised!!
Kotakbank not seen any impact after poor result and stock sustained
Hdfcbank, Icicibank and Axisbank seen selling pressure while PSU Banks seen buying action like PNB, BOB, Canbank and SBIN
Today RBI Governor press meeting at 10 am. It is unscheduled meeting. Is something cooking!!
Likely to witness heavy volatile will be expected during the day due to RBI Governor speech and PM will be discussed Covid situation with expert and ministers
BankniftyFuture formed a bearish candle on 4 May and seen selling pressure in past consecutive 4 sessions
However, BankniftyFuture will move based on Governor speech. Hence better to wait for speech or risky trader can buy PE options if any rally
Let’s see technical levels
BankniftyFuture is facing a intraday resistance 32580, 32650 and 32900
Above 2nd and 3rd resistance are crucial for today……. If crossover 32900 then will move 33100-33250
But………. Stay caution at higher levels and there is no strength at higher levels
Today BNF can be considered as supports 32310, 32175 and 31950
Below 31950………… finding a next support 31650-31400
More live market update will be sent to my clients only
Updated: 08.21 am / 05th May 2021