BankNifty Intraday Trade Setup | 4th May
Updated
BankNifty opened with a gap-down around 35682 and formed low in the first candle at 35618 which acted as support and we saw a great bounce towards 36060. BankNifty was trading in the range 36060 - 35850 which was broken on the upside in last hour as expected.
Trades we took on Expiry day, 13th April-
> Bought BankNifty 35800 PE at 320 which we booked at 310 with 10 points loss
> Bought BankNifty 36000 CE at 360, it went near to our 3rd Target of 430 and Traders booked profit
> Bought BankNifty 36000 PE at 335, it went above our Last Target of 420 and Traders booked profit
> Bought BankNifty 35900 CE at 340, it went above our Last Target of 440 and Traders booked profit
Overall BankNifty Option buyers booked a great profit on a range-bound day.
Tomorrow if BankNifty breaks 36300 on the upside, we expect a further up-move.
Expectations for Tomorrow: Volatile day.
Intraday Levels:
Buy Above 36300
Sell Below 35980
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 PE at 320 which we booked at 310 with 10 points loss
> Bought BankNifty 36000 CE at 360, it went near to our 3rd Target of 430 and Traders booked profit
> Bought BankNifty 36000 PE at 335, it went above our Last Target of 420 and Traders booked profit
> Bought BankNifty 35900 CE at 340, it went above our Last Target of 440 and Traders booked profit
Overall BankNifty Option buyers booked a great profit on a range-bound day.
Tomorrow if BankNifty breaks 36300 on the upside, we expect a further up-move.
Expectations for Tomorrow: Volatile day.
Intraday Levels:
Buy Above 36300
Sell Below 35980
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Trade closed: target reached
Sell Trade Triggered and All Targets done.
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Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research.
Whatsapp @8287021744
Telegram Channel - t.me/tradepropublic
Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research.
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