BankniftyFuture last close: 36347.85 (+1.1%)
On Wednesday, BankniftyFuture was consolidated around 300 points with light volatility
BNF was opened 36350 and made a low of 36084 and went to 36433
The Banknifty rallied more than 1400 points from last three day’s low
Private bank stocks did very well
Volatility index fell and settled around 20
Option premium seems low
As per open interest data shown 36000PE added more OI and 37000CE added more OI
Which was indicated buy on declines!!
However, BankniftyFuture is facing a intraday resistance 36450 and 36550
If stays above 36550 then will try to check 36800 and 37000
On other side, BNF can be considered as supports as 36250, 36150 and 36000
Strong support zone as per open interest 36000
Below 36000, Expecting more pain!!
Updated: 08.38 am / 31st March 2022
