BankNifty Intraday Trade Setup | 23rd November

BankNifty opened with more than 200 points gap-up but we saw sharp selling at open and while Day BN was forming lower highs, In last hour we saw 500 points recovery from day lows.

Trades we took today -

> Bought BankNifty 38000 CE at 320 which we booked with 40 points loss
> Bought BankNifty 37800 PE at 320 which made a high above 450 and Traders booked Great profit in this Trade
> Bought BankNifty 37700 CE at 230 which we booked with 30 points loss
> Bought BankNifty 37000 PE at 340, added more at 300, and booked around cost

Overall, a Good day for BankNifty Option Buyers.

We saw a good recovery in the last hour, If BankNifty sustains above 37300 we can see 150-200 points upmove.

Expectations for Tomorrow: Range-bound Day.

Intraday Levels:
Buy Above 37300
Sell Below 36970

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

Happy Trading!
InvestPro India Team

Comment:

Buy Trade Triggered as per Set-up and 1st Target Done.