19th March 2021 #BankniftyFuture Intraday Levels and Pre-market report

BankniftyFuture last close: 33888.25 (-1.4%)

BankniftyFuture was opened almost 250 points gap up but unable to sustained opening gains

BNF was opened 34580 then went to 34820 thereafter sustained 34500-34600 almost 1 hour……..Then the news was out US bond yield spiking then BNF cracked up to 33668

BNF looks extremely weeks in this March series and I did mention everyday in my blog “sell on rise”

All frontline bank stocks looks weakness and especially PSU banks

Yesterday I recommended Banknifty 34500PE around 110 to my paid clients and telegram channel. That PE was rocked up to 900. But earlier I sent book full profit

BanknfityFuture formed a bearish candle on a daily scale and formed a lower highs formation which is indicated sell on rise

Finally BNF has broken March series low and closed below the level. Looks very bearish

Let’s see technical levels, BNF is finding a support 36600-36700 which was indicated Budget second day’s low

Suppose if breaks and manages below the level………. Expecting more further weakness up to 33450-33200 for intraday

(Note: If closes below 33600……..(spot 33570) Ultimate targets 32000 to 30500 the Budget day gap will be filled)

Today BNF is facing a intraday resistance 34050, 34200 and 34450

Again same mantra……… Sell on rise

More live market update will be sent to my clients only

Updated: 08.49 am / 19th March 2021