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.