Banknifty last close: 43677.85 (-0.6%)
On Wednesday, Banknifty was seen selling pressure ended 0.6% down
Banknifty was opened 43750 then went to 44010 then erased all gains
Private banks was seen selling pressure
HDFCBank did not well in last 3 sessions
Icicibank also seen selling pressure
SBIN sustained and ended almost flat note
VIX shot up to 13 from 12.50
As per open interest, CE side added more OI like 44000CE
PE side not seen any significant OI
However, Banknifty is facing a intraday resistance 43770 and 43900
If stays above will try to move 44050.
If any rally can try PE options!!
On other side, Banknifty can be considered as supports as 43600 and 43450
Below 43450, finding a next support around 43250
Updated: 08.10 am / 25th May 2023