BankNifty Intraday Trade Setup | 4th March

Mar 3, 2022

BankNifty opened with a gap-up at 35683 and made high around 35800 but couldn't sustain at upper levels and we saw selling since open which took BankNifty towards 34900 zones. 34900 is strong support and BankNifty gave bounce towards 35100 a couple of times.

Trades we took today -

> Bought BankNifty 35600 PE at 160, it went above our Last Target 245 and Traders booked profit
> Bought BankNifty 35200 CE at 260 which we booked with 40 points loss
> Bought BankNifty 35600 PE at 410, it went above our Last Target 520 and Traders booked great profit
> Bought BankNifty 35000 PE at 290, it went above our Last Target 390 and Traders booked great profit
> Bought BankNifty 35600 PE at 350, it went above our Last Target 435 and Traders booked profit
> Bought BankNifty 34900 PE at 60, it went above our 3rd Target 130 and Traders made 100% profit
> Bought BankNifty 35300 CE at 45, it went near to our 2nd Target 90 and Traders made good profit

Overall, BankNifty Option Buyers booked insane profits today.

Tomorrow if BankNifty sustain below 34870, we may see a fast down move.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above 35050
Sell Below 34870

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

Happy Trading!
InvestPro India Team