Last close: 41271.90 (+2.2%)
On Monday, BankniftyFuture was rallied more than 2% and came nearly 42k
BNF was opened 40800 then made a low of 40455 thereafter spiked up to 41820
Finally the BNF was settled at 41271.90 & up 2.2%
The Icicibank was given more points to lift the bank index
Axisbank and SBIN did very well
Today Axisbank, Kotakbank and Canbank going to declare their earnings report
If comes good report from Axis and Kotak then bank index will move further rally
Option premium was seen higher due to high VIX
BankniftyFuture volatility will be continued ahead of earnings report
Last few months BNF was underperform while Nifty was at outperform
Now, The sentiment changed to opposite
However, BNF is facing a intraday resistance 41500 and 41850
Once if breaks and manages above 41850 will try to move 42050
On other side, BNF can be considered as supports as 41150, 40800 and 40500
Don’t short at very lower levels!!
More live market update will be sent to my clients only
Updated: 08.18 am / 26th Oct 2021
