BankNifty Intraday Trade Setup | 8th April

Apr 7, 2022

BankNifty opened with a gap-down around 37500 and after forming a low near 37350 we saw a good bounce, BankNifty went above 37950 but again saw the rejection at the upper level.

Trades we took today -

> Bought BankNifty 37600 PE at 240, it made a high above our 2nd Target of 290 and Traders booked profit
> Bought BankNifty 37600 PE again at 210 which we booked with 10 points loss
> Bought BankNifty 37300 CE at 230, it made a high above our 3rd Target of 300 and Traders booked profit
> Bought BankNifty 37700 PE at 230, it made a high above our 2nd Target of 280 and Traders booked profit
> Bought BankNifty 37400 CE at 190 which we booked with 15 points loss
> Bought BankNifty 37700 PE again at 240, it made a high above our 1st Target of 280 and Traders booked profit
> Bought BankNifty 37400 CE again at 290, it made a high above our Last Target of 375 and Traders booked profit
> Bought BankNifty 38000 PE at 160, it made a high above our 1st Target of 200 and Traders booked profit
> Bought BankNifty 38000 PE again at 150, it made a high above our 2nd Target of 195 and Traders booked profit
> Bought BankNifty 37700 PE again at 65, it made a high above our Last Target of 135 and Traders booked profit

Overall it was a fantastic day for BankNifty Option Buyers.

Tomorrow if BankNifty breaks 37460 on the downside, we may see a down move.

Expectations for Tomorrow: Trending Day

Intraday Levels:
Buy Above 37720
Sell Below 37460

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

Happy Trading!
InvestPro India Team

Apr 10, 2022

Trade closed: stop reached

Sell Trade Triggered and SL Hit.