BankniftyFuture last close: 35308.15 (-2.5%)
On Wednesday, BankniftyFuture was crashed more than 2.5% after RBI rate hike news
BNF was opened with a green at 36280 and went to 36340 thereafter consolidated around 35900-36100
After 2 pm, RBI governor announced the rate hike then market cracked and seen huge selling pressure
BNF was slipped from 36340 to 35150. Fell almost 1200 points from day’s high
All bank stocks slipped more than 2% to 4%
Kotakbank did very well and company declared good earnings report
VIX shot up 10% and ended around 21
BankniftyFuture has formed a big bearish candle on May 4
As per open interest 36000CE added more OI and indicated a strong resistance zone on today
Today BankniftyFuture is facing a intraday resistance 35500, 35650 and 35900
If stays above 35900 will try to move 36100.
But stay caution at higher levels!!
On flip side, BNF can be considered as supports as 35150 and 35000
Below 35000 will try to check 34750-34600
Updated: 08.40 am / 05th May 2022