BankNifty Intraday Trade Setup | 5th April

BankNifty opened with a gap-up near 37860 and after making a low around 37665 we saw a sharp rally because of HDFC News which took BankNifty above 38750 and we saw some selling from upper levels.

Trades we took today -

> Bought BankNifty 37800 CE at 330, it made a high above our Last Target 430, we asked Traders to Trail SL with some quantity, it made a high above 1000 and Traders booked profit
> Bought BankNifty 38200 CE at 410, it made a high above our Last Target 495 and Traders booked profit
> Bought BankNifty 38500 PE at 390, it made a high above our Last Target 500 and Traders booked profit

Overall it was a wonderful day for BankNifty Option Buyers.

Tomorrow if BankNifty sustains above 38710, we may see another up move.

Expectations for Tomorrow: Range-bound day.

Intraday Levels:
Buy Above 38710
Sell Below 38490

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

Happy Trading!
InvestPro India Team

Trade closed: target reached:

Sell Trade Triggered, 1st and 2nd Tragets done.