BankNifty Expiry Trade Setup | 21st October

BankNifty opened flat at 39600 level and we saw a sell-off in the morning, BankNifty took support at 39300 in the morning and we saw good up-move from that zone.

Trades we took Today:

> Bought BankNifty 39500 CE at 250 which we booked with 20 points loss at 230.
> Bought BankNifty 39600 PE at 320 which we booked with 50 points loss at 270.

Overall, bad day for Options Traders.

BankNifty is looking stronger than Nifty and we can see a short-covering move if BankNifty breaks and sustain above the yellow falling line.

Expectations for Tomorrow: Range-bound day, Volatality after 1:00 PM.

Intraday Levels:
Buy Above 39600
Sell Below 39300

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Happy Trading!
InvestPro India Team

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Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research.