Bankniftyfuture last close: 37795.20 (+2.2%)
BankniftyFuture was seen amazing perform on yesterday and index rose more than 2%
BNF was opened at 37000 then fell to 36850 therafter spiked up to 37987
Finally the bankindex settled around 37795
All front line bank stock shot up to 2% to 3%
Icicibank, Hdfcbank, Axisbank and Kotakbank did very well
SBIN rose more than 2%
But, Volatility index rose 7% and settled nearly 17
SGXNifty indicated a gap down opening for the index and followed by bank index
As per OI, 38000CE was seen highest OI and 37000PE was seen highest OI
You know…….the wide range 1000 points there is no siginicant OI
Which was indicated highly volatile will be expected during weekly expiry day
However, BNF is facing a intraday resistance 37900 and 38050
Above two levels are hurdle and crucial.
Suppose if breaks and holds above 38050….. Expecting bull’s dominate up to 38300
On flip side, BNF can be considered as supports as 37580 and 37450
Once if breaks and holds below 37450….. Will try to check 37220 levels
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Updated: 08.35 am / 06th Jan 2022
