BankNifty Intraday Trade Setup | 26th April

BankNifty opened with a big gap-down around 35803 and after making a low near 35510 we saw a great bounce towards 36250 which acted as resistance for the day. BankNifty was trading in 350 points range 36250 - 35900.

Trades we took on Expiry day, 13th April-

> Bought BankNifty 35800 CE at 340, it made a high above our Last Target of 440 and Traders booked profit
> Bought BankNifty 35700 PE at 340, it made a high above 360 but we booked it at a cost due to slow movement
> Bought BankNifty 35900 PE at 300, it made a high above our 1st Target of 340 and Traders booked profit
> Bought BankNifty 35900 PE again at 360, it made a high above our 2nd Target of 410 and Traders booked profit

Overall BankNifty Option buyers made a good profit on a range-bound day.

Tomorrow if BankNifty breaks 36250 on the upside, we can expect a short-covering move.

Expectations for Tomorrow: Range-bound Day.

Intraday Levels:
Buy Above 36250
Sell Below 35880

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

Happy Trading!
InvestPro India Team

Kommentera:

Gap-up opening, price didn't come to our levels.