BankniftyFuture last close: 32302.55 (+1.9%)
BankniftyFuture was rebounded on yesterday and index gained 1.9%
BNF was opened at 32221 and went to 32624 but unable to sustain at higher levels and fell more than 300 points from day’s high
Option premium was too high. Like 30000PE was closed at 50 which is 2300 points there to active 30k PE
Put premiums are too high and CE premium are too low
Icicibank and Axisbank helped to lift the index
Today Axisbank will declare their earnings report…… Maybe on post market hours
HDFCBank was seen selling pressure on yesterday
After RBI new rule, Kotakbank maybe affect
SGXNifty indicate a flat opening for the index and followed by Bank index
However, BankniftyFuture has formed hammer pattern on yesterday which was indicating there is no strength at higher levels
Today BNF is facing a intraday resistance 32350, 32450 and 32625
Above 2nd and 3rd resistance are hurdle for today’s trade!!
Suppose if stays above 32625………… Bulls will be dominate
Today BNF can be considered as supports 32170, 32050 and 31850
Below 31850………… Will try to check 31500
More live market update will be sent to my clients only
Updated: 08.18 am / 27th April 2021