BankniftyFuture last close: 36093.25 (-0.9%)
On Monday, BankniftyFuture was seen selling pressure and index declined around 1%
BNF was opened 36500 and gradually slipped up to 35940
PSU Bank index not well and slipped 1.5%
SBIN declined around 3%
Private banks also not well on March 21
Icicibank and Hdfcbank seen selling pressure
Volatility index spiked 8%
Option premium did not fall and seems higher rate
ATM straddle ended around (CE + PE) ended around 1030
BankniftyFuture formed a bearish candle on March 21
As per Open Interest, 36500CE was added more OI and there is no significant OI on PE sides
However, BankniftyFuture is facing a intraday resistance 36200, 36300 and 36500
Above 2nd and 3rd resistance are hurdle for today’s trade
On other side, BNF can be considered as supports as 35900-36000
Below 35900, will try to check 35730 and 35500
Updated: 08.23 am/ 22nd March 2022
