BankniftyFuture last close: 42483.70 (+0.7%)
On Tuesday, BankniftyFuture was seen strong consolidation and spiked more than 250 points in the last 45 minutes
BNF was opened 42305 and made a low of 42226 then shot up to 42561
Finally BNF was ended at 42483.70
Private banks was helped to lift the bank index
PSU Banks was sustained
VIX sustained below 15
Option premium seen very low due to low VIX
As per open interest, Overall PE side increasing the OI likes 42000PE, 42200PE
CE side there is no significant OI on closing basis!!
However, BNF is facing a intraday resistance 42575 and 42660
If breaks and manages above 42660 will try to check 42850
On other side, BNF can be considered as supports as 42450, 42380 and 42260
If there is any declines can buy with a stop of 42k
Updated: 08.37 am / 16th Nov 2022
