23rd March 2021 #BankniftyFuture Intraday Levels and Pre-market report

BankniftyFuture last close: 33685.20 (-1.5%)

BankniftyFuture was fell more than 3000 points from past consecutive 6 sessions

On yesterday, BNF was opened 34035 and made a high of 34189.90 then slipped to 33413 but did not breaks previous day’s low 33380

Do you know ? Yesterday I did mention in my blog “BNF support around 33400” exactly BNF took bounce-back from my support and closed nearly 33700

Indusindbank, Hdfcbank, Icicibank and Axis bank major dragged stocks in bank index

Option premium is too high on yesterday closing, Like ATM straddle rate was closed at 960, normal days ATM settled below 850 on Monday

BankniftyFuture formed a small bodied bearish candle on a daily scale and index was fell more than 3000 points in last 6 sesssions

Now, BNF can be considered as supports as 33470 and 33300-33250 which was indicated on last two day’s support zone

Close watch 33250-33300, BNF if takes support some relaxation will be expecting

Suppose if not takes support 33250 and if manages below the level, We see further selling pressure up to 32950-32800

On other side, BNF is facing a intraday resistance 33850-33925, If stays above the level, Bulls action will be expected up to 34200 and 34450

But, Stay caution at higher levels!!

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Updated: 08.25 am / 23rd March 2021