BankniftyFuture last close: 22913.80 (+2.2%)
What a terrible Tuesday……. In last 1 hour Banknifty index was spiked almost 400 points
In last 12 sessions BankniftyFuture was slipped from 22750 to 20050 then bounced-back from 20050 to 22950
Absolutely index was formed V shape like 5000 points movement in last 12 session
Maybe…….. Option writers faced huge problem in last 12 sessions
On yesterday HDFCBANK contributed to lift index
HDFCBANK gained 2.7%, Indusindbank spiked 3.5%, and Icicibank, Kotakbank, Sbin, Axisbank gained 1.5% to 2.5%
Today BankniftyFuture formed a bullish candle in last three sessions and index was closed above recent range
Today BankniftyFuture is facing a intraday resistance at 22950 – 23150
Above resistance is crucial for today’s trade…….. Suppose once if breaks and holds above 23150
Expecting more rally up to 23350. But stay caution at higher levels!!
Today BNF is considering a supports 22800, 22670 and 22500
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Updated: 08.35 am / 07th Oct 2020
