BankniftyFuture last close 36920.15 (-4.1%)
The Bears were in control throughout the day on Monday
BankniftyFuture was opened gap down at 37725 then slipped to 36800
The Bank index was slipped more than 4%
All Bank stocks was slipped more than 2% to 6%
Icicibank fell 5%
Hdfcbank and HDFC group of stocks fell more than 3%
PSUBank index fell 3%
Volatility index spiked almost 20% on yesterday and settled around 22
BankniftyFuture formed a big bearish candle on yesterday
On Open Interest side, highest OI added in 37500CE and followed by 38000CE
On PE side, There is no significant OI
However, BankniftyFuture is facing a intraday resistance 37250 and 37500
Stay caution at higher levels!!
On other side, BNF can be considered as supports as 36800, 36650 and 36400
Strong support zone around 36400. If fail to take support at 36400
Expecting more pain!!
Updated: 08.33 am / 15th Feb 2022
