Today BankNifty opened with a gap-up above its previous ATH, faced resistance near the 38355 zones, and remained in 200 points range for the remaining day. We bought BankNifty 38400 and BankNifty 38200 CE at 280 and 320 respectively and booked small profits in both the trades. It was a range-bound session like Friday hence we asked Traders to book small profits.
BankNifty was trading in a triangle pattern and we may see 100-200 points move in the morning if BankNifty opens in the same range and breaks the Triangle on either side.
Expectations for Tomorrow: Volatile day.
Intraday Levels: Buy Above 38230 Sell Below 38100
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