Bankniftyfuture last close: 35804.05 (+2.2%)
On Wednesday, BankniftyFuture was rallied more than 2%
BNF was opened gap up at 35500 and consolidated around 35600-35850 in whole day
However, All bank stocks shot up 2% to 4%
Hdfcbank and Icicibank did very well
PSUBank sustained around 1% gain
Volatility index fell around 10%
Option premium was seen melting
SGXNifty indicating a big gap up and followed by bank index also around 36200-36400
As per open interest 36000CE and 36500CE added more OI
If bank index sustains above 36100-36200, the 36000CE writers aggressively will square their positions
Which means, short covering expected!!
BankniftyFuture is facing a intraday resistance 36000 and 36200
If breaks and holds above 36200 will try to check 36500
BNF considering a support at 35900 & 35800
Below 35800…….. will try to check 35500-35300
Updated: 08.30 am / 17th March 2022
