BankNifty opened a flat and formed a low near 36400 zones in the first candle but didn't break Monday's low and we saw great upmove from lower levels. We saw a short-covering move in the second half and BankNifty closed in green with more than 750 points.
Trades we took today -
> Bought BankNifty 37100 CE at 420, it made a high above our last Target 550 and Traders booked great profit in this Trade > Bought BankNifty 37100 CE again at 490, it made a high above our first Target 550 and Traders booked profit in this Trade > Bought BankNifty 37500 PE again at 360, it made a high around our first Target 400 and Traders booked profit in this Trade > Bought BankNifty 37300 CE at 410, it made a high around our Last Target 520 and Traders booked profit in this Trade
Overall, a Great Day for BankNifty Option Buyers.
Tomorrow, if BankNifty opens flat and sustains above 37780 we may see a follow-up upmove for 120-250 points.
Expectations for Tomorrow: Range-bound Day, Volatality after 1:00.
Intraday Levels: Buy Above 37780 Sell Below 37400
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Happy Trading! InvestPro India Team
Trade closed: target reached
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Both Sell and Buy Trade Triggered and Targets Done on both sides.