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
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Happy Trading! InvestPro India Team
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As per our Positional View shared on Sep. 19th, BankNifty moving towards our First Target of 40700.