23rd Feb 2023 #Banknifty Intraday Levels and Pre-Market Reports

Banknifty last close: 39995.90 (-1.7%)

On Wednesday, Banknifty was slipped more than 700 points to ended around 40000
Banknifty was opened 40500 and fell to 39900
All bank stocks was seen selling pressure
PSUBank index fell around 2%
VIX shot up 7% to 15.50
Private bank was seen huge selling pressure

Open interest indicated 40500CE was seen huge OI
PE side not seen any significant OI
However, Banknifty is facing a intraday resistance 40120, 40200 and 40370
If stays above 40370 will try to check 40575-40650

On other side, Banknifty can be considered as supports as 39900 and 39800
If breaks and manages below 39800 finding a next support around 39600-39500

Updated: 08.33 am / 23rd Feb 2023