BankniftyFuture last close: 21559
Again BankniftyFuture was seen selling pressure at higher levels
BNF has opened 21700 and went up to 21999.90 then dropped up to 21464. Finally closed at 21559
Hdfcbank not manages previous day’s gain and yesterday lost 1.5%
Axisbank not boosted QIP issue news….. Stock fell from intraday high
Icicibank consolidated around 350 range……. Stock gained marginally
Indusindbank and Kotakbank was almost flat with green
All banks waiting for RBI Policy decision……!!
Today RBI policy at 11.45 am
Million $ questions?……………..Is cut repo rate 0.25 bps or unchanged ?
Is extend Moratorium up to December or March 2021 ??… If extend bad news for banks
Ex RBI Governor Raghuram Rajan warns against extending loan moratorium recalls AP’s Microfinance crisis.
Let’s see Today’s technicals
Today BankniftyFuture is facing a intraday resistance at 21720, 21860 and 22150
Above three levels are very crucial resistance. After Policy
BNF if consolidated above 22150……. Then bulls will be dominating up to 22400
But………. Chances are remote only.
If rates unchanged and if extending moratorium………. Every rise to sell……..!!
Today BNF can be considering a supports 21420, 21260 and 21000
Below……….. 21000………………Expecting more and more pain!!
Better to trade after clear trend ( like after policy)
More live market update will be sent to my clients only
Updated: 08.17 am / 06th Aug 2020
