BankniftyFuture last close: 35041.10 (-1.2%)
What a terrific Thursday
BankniftyFuture was opened gap up at 35750 and went to 35867 then melted to 34800
BNF slipped almost 1000 points from day’s high to low
But, in last 30 minutes BNF was rallied 500 points and finally settled at 35040
Volatility index sustained around 29.50
Option premium seems too high
BankniftyFuture formed big bearish candle on 03 March
Three thousand points away from current level option premium was seen too high
Like, 32000PE (10th March expiry) was seen at 100 and 38000CE was seen 25
That is fear of markets!!
However, BNF can be considered as supports as 34750-34800
If sustains below 34750 will try to check 34450 and 34050
On flip side, BNF is facing a intraday resistance 35200 and 35450
Stay caution at higher levels!!
Updated: 08.27 am / 04th March 2022