16th Oct 2020 #BankniftyFuture Intraday Levels

BankniftyFuture last close: 23110.30 (-3.5%)

Day before yesterday BankniftyFuture was spiked from 23200 to 24023 in last 1 hrs

On yesterday BNF was slipped from 23900 to 23000.

Did not expect that much of movement in last two sessions

All bank stocks was fell significantly

Hdfcbank, Icicibank, Axisbank, Kotakbank, Sbin, and Indusindbank fell 3% to 4%

I recommended Banknifty 23800PE at 100 and PE shot up to 750 

Today Bankniftyfuture is facing a intraday resistance at 23200, 23320 and 23500

Above resistance are crucial for today’s trade……… stay caution at higher levels

Today BNF considering a supports 23000, 22880 and 22770

Below 22770……….. Finding a next support around 22550

Don’t short at very lower levels!!

More live market update will be sent to my clients only

Updated: 08.40 am / 16th Oct 2020