07th #BankniftyFuture Intraday Levels and Stocks To Watch

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

More live market update will be sent to my clients only

Updated: 08.42 am / 07th April 2021

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