BankniftyFuture last close: 38332.85 (-1.7%)
On Monday, BankniftyFuture was opened gap-down and ended lower of 1.7%
BNF was opened 38700 then fell to 38270 and finally ended at 38333
All private banks seen selling pressure
Icicibank fell more than 2%
Kotakbank and Hdfcbank also seen selling pressure
PSUbank index declined around 1.5%
VIX shot up to 3% to ended around 19
Option premium didn’t fall due to volatile session
BankniftyFuture formed a second consecutive big bearish candle
In last two sessions BNF fell more than 1500 points from Friday’s high
Overall open interest indicated adding huge OI on CE side
However, BNF is facing a intraday resistance 38430, 38485 and 38650
Once if breaks and manages above 38650 will try to move 38900
But, Stay caution at higher levels!!
On other side, BNF can be considered as supports as 38180 and 38000
Below 38000, finding a next support at 37750
Updated: 08.25 am / 23rd Aug 2022
