BankNifty Intraday Trade Setup | 22nd Feb

BankNifty opened with a minor Gap-down below 37500 and made a low in the morning at 37156. BankNifty showed good 900 points upmove from lower levels but again faced rejection at 38050 zones.

Trades we took today -

> Bought BankNifty 37400 PE at 450, it went to our Last Target 560 and Traders booked great profit
> Bought BankNifty 37200 PE at 460 which we booked with 20 points loss
> Bought BankNifty 38000 CE at 390, it went to our 1st Target 450 and Traders booked profit

Overall, BankNifty Option Buyers booked profit on a highly volatile day.

Tomorrow, if BankNifty sustains below 37590 we may see a fast down move.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above 37820
Sell Below 37590

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

Happy Trading!
InvestPro India Team

Kommentera:

Big gap-down opening, no trade as per set-up.