InvestPro_India

BankNifty Intraday Trade Setup | 20th October

NSE:BANKNIFTY   NIFTY BANK
BankNifty opened with a Gap-up above our Buy level of 39800 and as per our analysis, BankNifty faced sharp rejection near the 40000 zones.

Trades we took Today:

> Bought BankNifty 40000 PE at 300 which made a high above 600 and Traders booked great profit in this.
> Bought BankNifty 39700 CE at 240 which made a high around 400 and Traders again booked great profit in this.
> Bought BankNifty 39700 CE again at 270 which we booked with 5 points loss at 265.

Overall, a great day for BankNifty Option Traders.

Tomorrow, we can see a sharp down-move of 120 - 250 points if BankNifty breaks and sustains below 39400.

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above 39600
Sell Below 39400

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

Happy Trading!
InvestPro India Team

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Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research.