BankniftyFuture last close: 34547.30 (-3.4%)
On Monday, BankniftyFuturue was opened 35300 and gradually slipped to 34123
In last two hours BNF was recovered almost 400 points from day’s low
I have recommended 34000CE around 500 and booked profit at 700
All bank stocks fell significantly
Indusindbank fell more than 20% from recent high
Volatility index spiked more than 15%
Option premium went up
As per open interest data showing, Highest OI added in CE side and PE side there is no significant OI
Highest OI was seen 36000CE which was 1500 points far away which is indicating highly volatile will be expected
However, BNF is facing a intraday resistance 34650, 34800 and 35000
Once if breaks and sustains above 35000, will try to move 35300
My same mantra………Stay caution at higher levels!!
On other side, BNF can be considered as supports as 34350 and 34100
Lower side strong support zone around 34000
Below the level…….. Expecting more pain
Updated: 08.31 am / 21st Dec 2021
