09th March 2021 #BankniftyFuture Intraday Levels and Pre-market report

BankniftyFuture last close: 35316.05 (+0.1%)

BankniftyFuture was seen range with volatile between 35100 to 35500 on March 8

BNF was opened 35501 and went to 35888 then slipped to 35100 again shot up 35400

Do you know ? Yesterday I did mention in my pre-market report “Banknifty support at 35100”. Yesterday BNF was made a exact low was 35100 then bounced to 250+

Last few times BNF was took support around 34750-34900. So watch these levels

All banking stocks looks weak and did not seen any significant higher levels

VIX index slipped more than 3%

But, option premium still too high in banknifty as well as Nifty also

Like 35500  pair was closed almost 875 points, normally one day before expiry its trading around 600-650

BankniftyFuture was formed a small bearish candle on last two sessions which indicates index seems range with volatility

However, BNF is facing a intraday resistance 35450, 35560 and 35800

Suppose if crossover 35800 and if sustains min 15 minutes then will move 36000+

Stay caution at higher levels. Incase if comes 3rd and 4th resistance call sell above 36500 CE options with stop of 36300

On other side, BNF is considering a supports 35240, 35100 and 34850

Lower level very strong support around 34650-34850. Close watch these levels

More live market update will send to my clients only

Updated: 08.23 am / 09th March 2021