BankniftyFuture last close: 34515.80 (+0.6%)
On Tuesday, BankniftyFuture was seen volatility but ended 0.6% gain
BNF was opened 34220 then went to 34817 and finally ended at 34515
Hdfcbank did well and lift the index
VIX sustained above 21
PSU Bank was seen selling pressure
Option premium was melted after 2 pm only
Axisbank did not well after the earnings report
Open interest chart indicating 34000PE added more OI and 35000CE added more OI
Which means index will move 1000 points move in this two session
However, BankniftyFuture is facing a intraday resistance 34625, 34700 and 34850
If stays above 34850, then will move to 35100
But, Stay caution at higher levels!!
On flip side, BNF can b considered as supports as 34350, 34200 and 33900
If stays below 33900……….expecting more blood bath!!
Updated: 08.20 am / 11th May 2022