BankniftyFuture last close: 22614.95 (-2.1%)
BankniftyFuture was seen strong selling pressure on Friday’s trade
BNF was opened at 22850 and went up to 22901 then made a low of 22321 again shot up 22650. Finally settled at 22614
Do you know? Thursday I did mention in my blog “BNF struggled around 23100-23200”. BNF unable to cross struggled zone.
Axisbank, Icicibank, Kotakbank, Hdfcbank and Sbin did not well on Friday. All stocks fell 1% to 3% and Indusindbank gained 1.6%
Saturday Icicibank announced strong earnings report. Profit at Rs 2599.1 crore and growth of 36% YoY. NII increased by 20% to Rs 9280 crore and mainly NPA declined 18 bps QoQ to 1.23%
BankniftyFuture weekly trend decider 23160-22100
Today focus on Icicibank and expecting BNF will open around 22850-23000
BankniftyFuture is facing a intraday resistance at 22770 and 22950
Once if breaks and holds above 22950 then rally will be expected up to 23150-23200
But……. BNF was struggled around 23150. Stay caution. Suppose if breaks and holds above 23200……… No problem for bulls
Today BNF can be considered as supports as 22550, 22420 and 22275
Buy on declines!! until 22100
More live market update will sent to my clients only
Last close: 381.80
ICICIBank announced strong earnings report and will react today
Stock is facing a resistance at 392-398
If crossover 398 and manages above the level will try to move 408 and 420
Supports 381-373.
Updated: 08.35 AM / 27th July 2020
