05th May 2021 #BankniftyFuture Intraday Levels and Pre-market Report

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