BankNifty Intraday Trade Setup | 2nd May

BankNifty opened with a gap-up around 36500, after some consolidation it went high towards 36700 which acted as profit booking zone and we saw 700 points sharp fall.

Trades we took on Expiry day, 13th April-

> Bought BankNifty 36600 CE at 350, it went above our 1st Target of 400 and Traders booked profit
> Bought BankNifty 36600 CE again at 320, it went above our 1st Target of 370 and Traders booked profit
> Bought BankNifty 36600 PE at 410, it went above our 1st Target of 450 and Traders booked profit
> Bought BankNifty 36700 CE at 360 which we booked with 10 points loss at 350
> Bought BankNifty 36200 CE at 490 which we booked with 40 points loss at 450

Overall BankNifty Option buyers booked a small profit on a highly volatile day.

Tomorrow if BankNifty breaks 35900 on the downside, we expect a further down move.

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above 36140
Sell Below 35900

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Happy Trading!
InvestPro India Team

Comentário:

Gap-down opening, no trade as per set-up.