BankNifty Intraday Trade Setup | 26th April
BankNifty opened with a big gap-down around 35803 and after making a low near 35510 we saw a great bounce towards 36250 which acted as resistance for the day. BankNifty was trading in 350 points range 36250 - 35900.
Trades we took on Expiry day, 13th April-
> Bought BankNifty 35800 CE at 340, it made a high above our Last Target of 440 and Traders booked profit
> Bought BankNifty 35700 PE at 340, it made a high above 360 but we booked it at a cost due to slow movement
> Bought BankNifty 35900 PE at 300, it made a high above our 1st Target of 340 and Traders booked profit
> Bought BankNifty 35900 PE again at 360, it made a high above our 2nd Target of 410 and Traders booked profit
Overall BankNifty Option buyers made a good profit on a range-bound day.
Tomorrow if BankNifty breaks 36250 on the upside, we can expect a short-covering move.
Expectations for Tomorrow: Range-bound Day.
Intraday Levels:
Buy Above 36250
Sell Below 35880
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Trades we took on Expiry day, 13th April-
> Bought BankNifty 35800 CE at 340, it made a high above our Last Target of 440 and Traders booked profit
> Bought BankNifty 35700 PE at 340, it made a high above 360 but we booked it at a cost due to slow movement
> Bought BankNifty 35900 PE at 300, it made a high above our 1st Target of 340 and Traders booked profit
> Bought BankNifty 35900 PE again at 360, it made a high above our 2nd Target of 410 and Traders booked profit
Overall BankNifty Option buyers made a good profit on a range-bound day.
Tomorrow if BankNifty breaks 36250 on the upside, we can expect a short-covering move.
Expectations for Tomorrow: Range-bound Day.
Intraday Levels:
Buy Above 36250
Sell Below 35880
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Kommentar:
Gap-up opening, price didn't come to our levels.
