BankniftyFuture last close: 37402.65 (+3.5%)
What a rally, Still budget rally continued after the one week consolidation
BNF was opened at 36455 and slowly went to 37543
From low to high BNF was climbed almost 1100 points
Top contributor Icicibank, Axisbank, Kotakbank and SBIN
Suppose HDFCBank if contribute maybe Bank index went to another 500 points
I think HDFCBank will contribute today and other banks maybe sustains
Option premium went up despite of VIX fell 3%
In last 30 minutes 37300 pair (CE and PE) premium added 75-100 points
Some trouble for option writers!! Take care
Is Banknifty rally will be continue ?
Already I told at 33500 on 2nd Feb, BNF ultimate target is 40000.
Now, BankniftyFuture is facing a intraday resistance 37600 and 37750
If crossover and holds above 37750………. will try to move 38000+
Supports 37200, 37000 and 36750
If there is any declines can buy buy buy or Sell PE or Buy ITM CE
More live market update will be sent to my clients only
SBIN close watch 409
Stock if sustains above the level
Further rally will be continue up to 420 and 427. (Short term target 475+)
Updated: 08.26 am / 16th Feb 2021
