BankniftyFuture last close: 33596.60 (+1.4%)
On Monday, BankniftyFuture was seen outperform and index gained 1.4%
BNF was opened 33230 then made a low of 33005 thereafter bounced up to 33850
Finally the Banknifty future was ended at 33596.60
PSU Bank index helped to lift the bank index
VIX ended around 24.40
Option premium was melted in last one hour only past few sessions
BankniftyFuture was formed a small bodied bullish candle on 16 April
As per open interest data showing 34000ce added more OI
While PE side open interest not seen significantly!!
However, BankniftyFuture is facing a intraday resistance 33670, 33825 and 34050
BNF facing a strong resistance zone around 34000-34100 for today’s trade!!
On other side, BNF can be considered as supports as 33350, 33130 and 33000
Below 33000, expecting more weakness
Updated: 08.19 am / 17th May 2022
