BankNifty Intraday Trade Setup | 11th Feb

BankNifty opened with a Gap-up, in the morning we saw some selling towards 38520 zones and then BankNifty showed the big upmove after RBI Policy.

Trades we took today -

> Bought BankNifty 38300 CE at 410 which we booked with a small profit at 450
> Bought BankNifty 38400 CE at 430 which we booked with 40 points loss
> Bought BankNifty 39200 CE at 70, it went above our 1st Target 100 and Traders booked profit
> Bought BankNifty 38600 CE at 410, it went above our Last Target 520 and Traders booked great profit

Overall, BankNifty Option buyers booked great profit.

Tomorrow, if BankNifty sustains above 39200 we may see a follow-up upmove.

Expectations for Tomorrow: Trending Day

Intraday Levels:
Buy Above 39200
Sell Below 38880

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

Happy Trading!
InvestPro India Team

Comentário:

Gap-down opening, No Trade as per setup.