07th May 2021 #BankniftyFuture Intraday Levels and Pre-Market Report

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