BankniftyFuture last close: 42765.35 (-1.6%)
On Wednesday, What a panic selling and Banknifty broken recent bottom
BNF was opened 43530 and went to 43688 then fell up to 42445
After vertical fall then went to 43000 finally settled at 42765
All Bank stocks was seen selling pressure
PSUBank index fell 2.5%
VIX shot up to 15.80 from 13.80
Option premium went up due to VIX surged 13%
SGXNifty indicates a gap up opening and followed by bank index also
But, Expecting selling pressure at higher levels
As per open interest, No significant OI on both sides
Which means expecting highly volatile during the day
However, BankniftyFuture is facing a intraday resistance 42880, 43000 and 43130
If breaks and manages above 43130 then will try to move 43300
Anyway, Stay caution at higher levels!!
On other side, BNF can be considered as supports as 42650, 42500 and 42400
Below 42400 expecting more weakness up to 42100
Updated: 08.29 am / 22nd Dec 2022
