08th May 2023 #Banknifty Intraday Levels and Pre-Market Reports

Banknifty last close: 42661.20 (-2.3%)

On Friday, Banknifty was dragged more than 2%
Seen huge sell-off after a long time
Banknifty was opened 43100 then fell to 42585 finally ended at 42661
HDFCBank fell more than 5% after the MSCI report
All private banks was seen selling pressure on Friday
PSUBank also not good
VIX shot up to 12.50

This week Banknifty trend decider 42400 and 43600
Today Banknifty is facing a intraday resistance 42850 and 42950
If stays above 42950 will try to move 43200

On other side, Banknifty can be considered as supports as 42400 and 42100
Below 42100… Expecting more pain

UpdateD: 08.27 am / 08th May 2023