BankNifty Intraday Trade Setup | 4th May

BankNifty opened with a gap-down around 35682 and formed low in the first candle at 35618 which acted as support and we saw a great bounce towards 36060. BankNifty was trading in the range 36060 - 35850 which was broken on the upside in last hour as expected.

Trades we took on Expiry day, 13th April-

> Bought BankNifty 35800 PE at 320 which we booked at 310 with 10 points loss
> Bought BankNifty 36000 CE at 360, it went near to our 3rd Target of 430 and Traders booked profit
> Bought BankNifty 36000 PE at 335, it went above our Last Target of 420 and Traders booked profit
> Bought BankNifty 35900 CE at 340, it went above our Last Target of 440 and Traders booked profit

Overall BankNifty Option buyers booked a great profit on a range-bound day.

Tomorrow if BankNifty breaks 36300 on the upside, we expect a further up-move.

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above 36300
Sell Below 35980

To motivate me, Please like the idea If you agree with the analysis.

Happy Trading!
InvestPro India Team

Trade fechado: objetivo atingido:

Sell Trade Triggered and All Targets done.