16th March 2021 #BankniftyFuture Intraday Levels

BankniftyFuture last close: 35304.70 (-0.6%)

What a terrible day on 15 March

BNF was opened almost flat note at 35500 then seen sharp selling pressure up to 34455 and sustained 34500-34700 almost 2 hours then spiked up to 35400

From high to low 1000 points and from low to high 1000 points…….. Net volatility 2000 points

But volatility index fell almost 2%

PSU banks recovered from intraday loss

Indusindbank, Icicibank, Axisbank, Hdfcbank and Kotakbank closed almost flattish note

Yesterday I did mention BNF if closes below 34500, expecting blood bath on coming days, But BNF made a low was 34455 then bounced almost 1000 points and closed above 35200

Now, BNF is facing a intraday resistance 35500, 35630 and 35900

Avoid fresh buying at higher levels!!

In last 10 days range was 34500 and 36500

Today BNF can be considered as supports as 35100, 34950 and 34700

Strong support zone around 34500-34600. Don’t short at very lower levels!!

More live market update will be sent to my clients only

Updated: 08.17 am / 16th March 2021