BankNifty Intraday Trade Setup | 4th Feb

BankNifty opened with a minor Gap-down around 38280 and trading in a range for the first half. BankNifty made a high around 39420 and we saw a big rejection from upper levels.

Trades we took today -

> Bought BankNifty 39900 PE at 520, it went above our Last Target 620 and Traders booked great profit
> Bought BankNifty 38800 CE at 550 which we booked with 60 points loss
> Bought BankNifty 39200 CE at 200, it went above our 2nd Target 270 and Traders booked great profit
> Bought BankNifty 39200 CE at 350 which we booked with 30 points loss
> Bought BankNifty 39200 PE at 70 as Hero Zero, it went above our Last Target 175 and Traders booked great profit

Overall good day for BankNifty though we booked greater profit in Nifty.

Tomorrow, if BankNifty breaks 38900 on the downside we may see a quick 100-250 points move but be cautious as it is also a support zone.

Expectations for Tomorrow: Trending day.

Intraday Levels:
Buy Above 39220
Sell Below 38900

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, 1st and 2nd Targets done.