BankniftyFuture last close: 34723.95
BankniftyFuture was seen consolidated with range around 34700-34950 on yesterday
BNF was opened 34810 and made a low of 34502 then went to 34989 again slipped to 34700
Hdfcbank, Icicibank, Axisbank and Kotakbank sustained
SBIN did well but in last one hour fell almost 1.5% from day’s high
VIX shot up to 10% at 21 levels
Option premium was closed lower
Highest OI was seen 35000CE and 34500PE
BankniftyFuture was trading range in last three sessions 34400 to 35300
Today monthly expiry and expecting highly volatile but watch above levels
As per OI data BNF considering a strong support 34500 and resistance 35000
However, Today BNF is facing a intraday resistance 34880 and 35030
If stays above 35030……… Expecting short covering up to 35300-35450
BNF can be considered as supports as 34600, 34500 and 34400
Below 34400………Finding a next supports 34240-34000
Don’t short at very lower levels!!
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Updated: 08.32 am / 27th May 2021