Bankniftyfuture last close: 38622.75 (+1.3%)
On Budget day, BankniftyFuture was seen very volatile and movement was seen almost 3000-3500 points
BNF was opened 500 points gap up at 38500 and went to 38914 then slipped to 37767 again shot up to 38700
All bank stocks was seen volatility
PSUBank was seen selling pressure
Volatility index cooled off almost 10%
During the Budget Banknifty ATM straddle was seen 1450
After the Budget the premium melted and ended ATM straddle around 800
Do you know ? During the Budget 40000CE was at 250 and ended around 35
BankniftyFuture formed shooting star candle which was indicated buy on dips
BankniftyFuture is facing a intraday resistance 38800 and 39000
Very strong resistance zone around 39000-39100
If stays above 39100 then will move further rally
On flip side, BNF can be considered as supports as 38500, 38310 and 38000
Don’t short at very lower levels
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Updated: 08.25 am / 02nd Feb 2022
