BankniftyFuture last close: 21859.35 (-3.3%)
Bankniftyfuture was seen strong selling pressure on yesterday’s trade
BNF was opened high around 22647 then dropped up to 21818.80. Finally closed near by day’s low
Unexpected fall in Icicibank and stock fell 6% and HDFCBank dropped 3.55% the news was promoter Aditiya Puri has sold around 800 crore worth of stocks
Axisbank continued to selling mode after the earnings report & stock fell 3.2%
Kotakbank also did not well and stock fell 2.5% after the earnings report
BankniftyFuture has formed strong bearish candle on yesterday’s trade and index was broken strong support 22100
Today SGXNifty indicates a positive opening around 40-60 points. Hence Banknifty index also will be opened at gap up likes 22000-22200.
Today BNF is facing a intraday resistance at 22020, 22100 and 22330
Above second and third resistance are strong for today’s trade!!
Suppose if crossover 22330 and manages above the level……… Will try to check 22600
As per technical chart………There is no strength at higher levels!!…….. Sell on rise!!
Today BNF can be considered as supports as 21780, 21700 and 21600
Below 21600……….. Finding a next supports 21400 and 21220
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Updated: 08.24 am / 28th July 2020
