BankNifty Intraday Trade Setup | 18th October

BankNifty opened with a Gap-up and after consolidation traded in a narrow range throughout the day to eat premiums on both sides. Around 1:40 we saw a sharp upmove, BankNifty broke the day range and we saw a trending move of more than 400 points.

Trades we took Today:

> Bought BankNifty 39000 PE at 270 which made a high around 317 and Traders booked good profit in this.
> Bought BankNifty 39000 PE again at 160 which made a high around 210 and Traders booked good profit in this.

Overall, good day and Traders booked profit in BankNifty Options.

Tomorrow we are expecting a Gap-up opening so be cautious in morning trade.

Expectations for Tomorrow: Volatility and morning.

Intraday Levels:
Buy Above 39400
Sell Below 39000

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

Happy Trading!
InvestPro India Team

Comment:

As per our Positional View shared on Sep. 19th, BankNifty moving towards our First Target of 40700.