BankniftyFuture last close: 36757.15 (-0.4%)
On Monday, BankniftyFuture was opened 37000 and fell up to 36690
Finally ended at 36757. BNF was seen very range on yesterday
On July middle, BNF was sustained 34500-35300. On August middle BNF was sustained 36000-36500. Now in last one week BNF sustains 36500-37200.
Heavy weight stock HDFCBank did not well
PSU Banks sustained and not seen any rally in last more than 3 weeks
Above chart is yesterday’s closing open interest data of Banknifty
On Monday, BankniftyFuture formed a small bodied bearish candle on daily scale
In last four sessions, BNF if came 37000-37200 was seen selling pressure
Index did not sustained above 37000 or 37200 levels!!
However, As per OI data 37000CE was seen highest OI and PE side OI not clear because 36500CE and PE added equal OI.
BNF is facing a intraday resistance 36850, 36960 and 37100
Above 2nd and 3rd resistance are hurdle for today’s trade
BNF can be considered as supports as 36660 and 36500
Below 36500 and if sustains, expecting more pain up to 36300
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Updated: 08.25 am / 07th Sept 2021