BankniftyFuture last close: 32691.55
BankniftyFuture was seen side-ways trade on 07 April and did not move significantly
BNF was opened at 33021 and dropped to 32461 then bounce-back to 33175 but unable to sustain at higher levels bears dominate up to 32700
Today all eyes are RBI Policy and Governor’s speech about economic
Banking stocks sustained at lower levels and waiting for news to move further
Icicibank, Hdfcbank, Axisbank and Indusind bank did not well even PSU Banks also
Option premium was dropped gradually
BankniftyFuture formed a small bodied bearish candle on the daily scale
In April series BNF was made a low of 32400 and high of 34250. In last three times BNF was bounced from 32400 around. It will act strong support zone!!
However, RBI policy maybe hold the rates but…….. watch Governor’s speech about economic.
If all is well and BNF if not breaks 32400………..Hope some covering!!
Suppose, BNF if breaks 32400 and manages below 15 minutes…….. Expecting further weakness up to 32230 and 32000
BNF facing a intraday resistance 32830, 33000 and 33200
Above 33200……….. will try to move 33500
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Updated: 08.42 am / 07th April 2021
