BankniftyFuture last close: 32953.75
BankniftyFuture was seen consolidated trade after long period on 06th May 2021
BNF was opened 33107 and went to 33144 then slipped to 32655. Finally closed 32953
Volatility index dropped more than 3% which was helped to banknifty sustained
Hdfcbank, Axisbank, and Icicibank sustained and not seen any significant move
Option writers have made more money on yesterday due to range market
SGXNifty indicate a positive opening for the index and followed by bank index
BankniftyFuture formed a hanging man kind of pattern on yesterday’s trade which was indicating stay caution at higher levels
However, BankniftyFuture is facing a intraday resistance 33150-33220 which was placed last four days peak
If stays above 33220 and manages above the level will try to move 33400+
BNF can be considered as supports as 32850, 32740 and 32650
Below 32650…….. expecting further weakness!!
Today afternoon trade will be very interesting………..Take care
Updated: 08.46 am / 07th May 2021
