BankniftyFuture last close: 32817.15 (-3.9%)
Bankniftyfuture was seen huge selling pressure on yesterday
BNF was opened at 33925 and melted up to 32412 then recovered almost 400 points from day’s low
Final tally was BNF fell more than 1150 points
All front-line banks and PSU stocks fell significantly
Major contributor Indusindbank fell 5.5%, and SBIN declines 4.6%
Option premium went up in first half and erased intraday gains in second half
BankniftyFuture was formed a big bearish candle on April 5 but bounced-back from previous week low around 32400
However, Highly volatile will be expected due to RBI Policy on tomorrow
Today BNF is facing a intraday resistance 32950 and 33100
If crossover and holds above 33100…….. Will try to move 33250-334000
Stay caution at higher levels!!
Today BNF can be considered as supports as 32670, 32530 and 32400
Below 32400…………… Expecting more pain up to 32000
More live market update will be sent to my clients only
Updated: 08.15 am / 06th April 2021