31st Jan 2023 #BankniftyFuture Intraday Levels and Pre-Market Reports

BankniftyFuture last close: 40704.45 (+0.1%)

What a volatile in the Banknifty index
BNF was opened 40250 then fell to 39950 again shot up to 41129
Once again fell to 39750 then shot up to 40700…. Ooops!!
Finally Bank index ended 44 points gain!!
Did you know ? Yesterday BNF swing was almost 3800 points!!
Icicibank and Hdfcbank recovered from day’s low
PSUBank index ended marginally gain
VIX sustained around 17.50-18
Option premium was seen too high due the high VIX and Budget

As per the OI date, Nothing seen significant OI
However, High OI was seen 42000CE like 1500 points away from current rate

Today BNF is facing a intraday resistance 40830, 40950 and 41100
If stays above 41100 will try to move 41400

On other side, BNF can be considered as supports as 40450 and 40300
Below 40300 finding a next support around 39950 and 39700

Updated: 08.26 am / 31st Jan 2023