Banknifty fut may face resistance at 40700. Taking an upside trade today is a bit risky as Banknifty may face 3-4 quick resiatance at it's near level.
With the liquidation of 1.18 lakh contracts, Bank Nifty March Future Open Interest Volume stands at 25.6 lakh, and the declining Cost of Carry indicates that today's long positions were closed.
Bank Nifty Rollover cost is 40733, and the rollover percentage is 78.1%.
Index:-You now know that the short-covering level and breakout for the Bank Nifty Index is close to 40495. As a result, Bank Nifty index may start out today flat and attempt to go above the breakout point of 40495. If Bank Nifty maintains its position above 40495, it may go in the direction of 40645 and 40820. Be careful since Bank Nifty index may fall below 40231 and 40064 if it cannot maintain its position above 40370
With the liquidation of 1.18 lakh contracts, Bank Nifty March Future Open Interest Volume stands at 25.6 lakh, and the declining Cost of Carry indicates that today's long positions were closed.
Bank Nifty Rollover cost is 40733, and the rollover percentage is 78.1%.
Index:-You now know that the short-covering level and breakout for the Bank Nifty Index is close to 40495. As a result, Bank Nifty index may start out today flat and attempt to go above the breakout point of 40495. If Bank Nifty maintains its position above 40495, it may go in the direction of 40645 and 40820. Be careful since Bank Nifty index may fall below 40231 and 40064 if it cannot maintain its position above 40370