BankNifty Intraday Trade Setup | 28th January

Jan 27, 2022

BankNifty opened with a Gap-down below 37400 and formed a low near 37050-37000 zone which was psychological support. BankNifty showed a great recovery from lower levels and we saw a rally in the last 2 hours as expected.

Trades we took today -

> Bought BankNifty 36600 PE at 410, it made a high above our Last Target 510 and Traders booked great profit in this Trade
> Bought BankNifty 36800 PE at 480, it made a high above our Last Target 580 and Traders booked great profit in this Trade
> Bought BankNifty 37700 CE at 570, it made a high above our Last Target 680 and Traders booked great profit in this Trade
> Bought BankNifty 37000 PE at 440 which we booked with 20 points loss
> Bought BankNifty 38000 CE at 640, it made a high above our Last Target 790 and Traders booked great profit in this Trade

Overall, a Great Day for BankNifty Option Buyers.

Tomorrow, if BankNifty opens flat and sustains above 38120 we may see a follow-up upmove for 130-300 points.

Expectations for Tomorrow: Volatile day

Intraday Levels:
Buy Above 38120
Sell Below 37780

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

Happy Trading!
InvestPro India Team

Jan 28, 2022

Trade closed: target reached

Buy Trade Triggered, 1st and 2nd Targets Done.