BankNifty Expiry Trade Setup | 18th November

BankNifty opened with a gap-down below our Sell Level of 38200 and after morning fall BankNifty took support around 38000 which was also a psychological level and we saw a good rally from lower levels.

Trades we took today -

> Bought BankNifty 38000 CE at 280 which made a high above 550 and Traders booked great profit in this Trade
> Bought BankNifty 38400 PE at 250 which we booked with 40 points loss
> Bought BankNifty 38300 CE at 300 which we booked with 50 points loss
> Bought BankNifty 38400 PE again at 260 which made a high above 400 and Traders booked great profit in this Trade

Today BankNifty Option Buyers booked great profit.

Tomorrow we can see a fast down-move if BankNifty breaks 37950 level but we also can see a short-covering expiry rally so trade with caution.

Expectations for Tomorrow: Range-bound Day, Volatality after 1:00 PM.

Intraday Levels:
Buy Above 38160
Sell Below 37950

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

Happy Trading!
InvestPro India Team

Comment:

Sell Trade Triggered, 1st Target Done.