While updating BankniftyFuture were trading @ 34500. Marked a low of 34460 and high of 35000.75
Volatility index spiking 10% at 13.90
Hdfcbank and Icicibank falling more than 2% and the both bank is major contributor to falling bank index
Kotakbank and Axisbank marginally loser 1%
Option premium shot up due to VIX spiking 10%
But, Now At The Money option premium is too high because tomorrow is holiday so expecting premium will be falling afternoon
Highest open interest seems 35000CE and followed by 34500CE
On PE there is no significant OI. Because all are shorting CE only!!
BNF is considering a supports 34420-34475. If not takes support expect more weakness up to 34200-34000
On other hand BNF is facing a resistance 34625 and 34760
Updated: 12.36 pm / 20th July 2021