29th Sept 2021 #BankniftyFuture Intraday Levels and Pre-Market Report

BankniftyFuture last close: 38044.15 (-0.5%)

BankniftyFuture was seen highly volatile on Sept 28
BNF was opened 38350 and sustained 38200 in first one hour then slipped to 37350 again bounced-back to 38200
In last 30 minutes BNF was climbed more than 750 points
I did not expect that much of volatile
PSU Banks was seen selling pressure
Option writers faced huge trouble due to high VIX
Volatility index spiked 5% and ended around 18.50

The volatility will be continued today and tomorrow due to the Sept series expiry
Open Interest data shows, 38000CE and 38500CE added more OI and PE side there is no significant open interest which was indicating further weakness will be continue

BankniftyFuture is facing a intraday resistance 38130, 38250 and 38400
Stay caution at higher levels and If rise can create shorts with stop of resistance zone

On other hand, BNF can be considered as supports as 37850, 37700 and 37500
Below 37500 will try to check 37350 and 37200
Don’t short at very lower levels
More live market update will be sent to my clients only

Updated: 08.26 am / 29th Sept 2021