BankNifty Expiry Trade Setup | 10th Feb
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BankNifty opened with a Gap-up near our Buy level 38220 and gave a good upmove towards the 38530 zones, after moving in minor a range BankNifty gave the breakout and closed near day high.
Trades we took today -
> Bought BankNifty 38600 PE at 440 and added more near 400, it went to our 1st Target 490 and Traders booked profit
> Bought BankNifty 38800 PE at 480 which we booked with 50 points loss
> Bought BankNifty 38500 PE Feb Month Expiry at 660, it went above our 2nd Target 750 and Traders booked profit
> Bought BankNifty 38000 CE at 480, it went above our 2nd Target 560 and Traders booked profit
Overall, a choppy day but we booked good profit in the BankNifty Option.
Tomorrow, if BankNifty sustains above 38660 we may see a follow-up upmove.
Expectations for Tomorrow: Range-bound day, Volatality after 12:00 PM. RBI Policy would be announced tomorrow around 11:30 AM and the market can be highly volatile during that time.
Intraday Levels:
Buy Above 38660
Sell Below 38470
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Trades we took today -
> Bought BankNifty 38600 PE at 440 and added more near 400, it went to our 1st Target 490 and Traders booked profit
> Bought BankNifty 38800 PE at 480 which we booked with 50 points loss
> Bought BankNifty 38500 PE Feb Month Expiry at 660, it went above our 2nd Target 750 and Traders booked profit
> Bought BankNifty 38000 CE at 480, it went above our 2nd Target 560 and Traders booked profit
Overall, a choppy day but we booked good profit in the BankNifty Option.
Tomorrow, if BankNifty sustains above 38660 we may see a follow-up upmove.
Expectations for Tomorrow: Range-bound day, Volatality after 12:00 PM. RBI Policy would be announced tomorrow around 11:30 AM and the market can be highly volatile during that time.
Intraday Levels:
Buy Above 38660
Sell Below 38470
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Trade geschlossen: Ziel wurde erreicht
Buy Trade Triggered, All Targets Done.
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