BankNifty opened with a gap-up near 36200 and after making a low around 36070 we saw an upmove which took BankNifty above 36400 but due to slow momentum, there were not many opportunities for Option Buyers.
Trades we took today -
> Bought BankNifty 36100 CE at 300, it made a high above our 1st Target 340 and Traders booked profit > Bought BankNifty 36300 PE at 300 which we booked with 50 points loss > Bought BankNifty 36100 CE at 340, it made a high above our 1st Target 390 and Traders booked profit
Overall, it was a choppy day and BankNifty Option Buyers booked a small profit.
Tomorrow if BankNifty sustains above 36450, we may see another upmove.
Expectations for Tomorrow: Range-bound movement, Volatality after 1:25 pm.
Intraday Levels: Buy Above 36450 Sell Below 35950
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading! InvestPro India Team
Comment
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Choppy Day, Buy Trade Triggered and price went close to 1st Target.
waited for bn to cross 36300 and started buying pe aded few to average down and sold for 30 points .. no much in put side.. re enter again bu this time with decay effect booked for 20 points , again re entered put a the end of the day assuming some fall may happen as its expiry day,month. oi data was also so strong above ... holding puts overnight
InvestPro_India
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@srinivasrepala3, Booked 17500 PE April Expiry with profit and made money in Nifty and BN PEs during Intraday too.
again re entered put a the end of the day assuming some fall may happen as its expiry day,month.
oi data was also so strong above ... holding puts overnight