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
