BNF: BNF in a trending volatile session opened with gap up, recovered in first session and fell from high’s with intraday swings of more than 500 pts and remained volatile with sell on rise trend, outperformed to Nifty, with intraday moves of 775 pts, closed positive. Technically, the index may find support around 37500 and pullback could extend if 38300 sustained on upside, index likely to be uncertain on trend with RBI policy meet is due today and big moves are expected. Intraday, BNF will have support around 37470 and likely resistance around 38210. As per weekly expiry data, 37500 PE & 38000 CE remain crucial strike prices to watch. On an immediate basis,37577 remains a very crucial level to hold as a support and resistance around 38075. #Levels and trends may change based on the tone and texture of stand by RBI post Policy decision and press conference. We will update that on real time.
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