BNF: BNF in a trending volatile session opened with gains, fell from high’s with intraday swings of more than 700 pts and remained volatile with sell on rise trend, underperformed to Nifty, with intraday moves of 775 pts, closed negative. Technically, the index is corrected after a healthy upside run which was expected, however 38500 acting as an interim support with trend may continue on downside will be set only after expiry and RBI event (likely). Intraday, BNF will have support around 38070 and likely resistance around 38710. As per monthly expiry data, 38000 PE & 39000 CE remain crucial strike prices to watch. On an immediate basis,38477 remains a very crucial level to hold as a support and resistance around 38575.