BankNifty Expiry Trade Setup | 3rd November

BankNifty opened flat today and showed some strength in the morning but faced resistance near psychological resistance of 40000 zones as mentioned yesterday.

Trades we took Today:

> Bought BankNifty 39900 CE at 290 and added more at 260 which made a high of 320 in morning and Trades booked profit in this Trade
> Bought BankNifty 39800 CE at 270 which we booked with 30-40 points
> Bought BankNifty 40000 PE at 260 which made a high around 315 and Traders booked profit in this Trade
> Bought BankNifty 40200 PE at 270 which made a high around 380 and Traders booked great Profit in this Trade
> Bought BankNifty 39800 CE again at 350 which we booked with 30 points profit at 380
> Bought BankNifty 40100 PE at 260 which made a high around 298 but due to slow movement we booked around cost

Overall, a great day for BankNifty Option Buyers.

Today BankNifty was trading in a marked range and we can expect a good movement once the Range would break either side.

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

Intraday Levels:
Buy Above 40120
Sell Below 39780

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

Happy Trading!
InvestPro India Team

Comment:

Huge Volatality after 1:00 as per analysis, We booked great profits today in BankNifty Options.