18th March 2021 #BankniftyFuture Intraday Levels

Bankniftyfuture last close: 34360.65 (-1.6%)

BankniftyFuture was seen huge selling pressure on March 17

BNF was opened at 34900 and went to 35184 then slipped to 34230

BNF was broken recent support 34450 and closed below the level

All front line bank stocks was seen selling pressure, especially PSU banks fell more than 3-5%

In last 1 hour VIX index climbed from -3% to +0.5%

Option premium was increased in last 1 hour

ATM straddle was settled around 570, normally ATM straddle is around 450-475 in one day before expiry day

SGXNifty indicate a gap up opening for the index and followed by Banknifty also will opened 300+

Likely to witness volatile trade will be expected during the day ahead of weekly expiry

BNF formed a bearish candle on a daily scale which indicated stay caution at higher levels

However, BNF is facing a intraday resistance at 34550, 34770 and 34900

Major resistance zone around 34900-35200. Stay caution at resistance zone!!

Today BNF is considering a supports 34230, 34100 and 33850

Don’t short at very lower levels!!

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Updated: 08.45 am / 18th March 2021