BankNifty Expiry Trade Setup | 24th Feb

Feb 23, 2022

BankNifty opened with a gap-up above 37600 and faced rejection in the 37800 zones. BankNifty was trading in 200 points range which it broke in the last 30 mins.

Trades we took today -

> Bought BankNifty 37700 PE at 330 which we booked with 20 points loss
> Bought BankNifty 38000 PE at 410, it went above our Last Target 525 and Traders booked great profit
> Bought BankNifty 37600 PE at 290, added more at 270 and we booked it around cost due to slow movement
> Bought BankNifty 37300 CE at 440, it went above our Last Target 560 and Traders booked great profit

Overall, it was a choppy day for BankNifty Option Buyers.

Tomorrow, if BankNifty sustains below 37300 we may see a fast down move.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above 37480
Sell Below 37300

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

Happy Trading!
InvestPro India Team

Feb 25, 2022

Note

Big Gap-down due to Russia Ukraine war, no trade as per set-up.