BankNifty Intraday Trade Setup | 12th January 2022

BankNifty opened with a minor Gap-up around 38400, we saw some selling at open but 38050 - 38000 acted as a support and BankNifty showed a great 400-450 points recovery from lower levels.

Trades we took today -

> Bought BankNifty 38600 PE at 490 in which we booked 50 points profit
> Bought BankNifty 38300 CE at 380 which we booked with 50 points loss
> Bought BankNifty 38400 PE at 440 which went above 500 and Traders booked 60 points profit in this Trade
> Bought BankNifty 38100 CE at 390 which made a high above our Last Target 495 and Traders booked great profit in this Trade
> Bought BankNifty 38100 CE again at 470 which we booked with 40 points loss

Overall, a Choppy day for BankNifty Option Buyers.

Tomorrow, another good up-move is expected once BankNifty would start trading above 38520.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above 38520
Sell Below 38270

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Happy Trading!
InvestPro India Team

Comment:

Gap-up opening, no trade as per set-up.