BankniftyFuture last close: 42393.35 (+0.4%)
On Wednesday, BankniftyFuture was seen violent move with positive bias
BNF was opened 42250 and fell to 41880 in the first 15 minutes
Then BNF was spiked from 41900 to 42450 within 3 minutes
Highly volatile market but VIX colled-off 1% to settled at 15.30
Hdfcbank and Icicibank did well to lift the bank index
PSUBank did well
As per open interest 42000PE and 42500CE was seen highest OI
BankniftyFuture is facing a intraday resistance 42450 and 42560
If breaks and manages above 42560 will try to check 42700
Stay caution at higher levels!!
On other side, BNF can be considered as supports as 42300, 42200 and 42000
Below 42000 will try to check 41870 thereafter expect more pain!!
Updated: 08.27 am / 12th Jan 2022