InvestPro_India

BankNifty Intraday Trade Setup | 23rd August

NSE:BANKNIFTY   NIFTY BANK
BankNifty opened with a big gap-down due to Global cues and come down to near 35000 which is a psychological support zone . It took to support and we saw a bounce towards 35300 zones which acted as resistance, BankNifty was trading in this range for the whole day.

We bought 35100 CE at 320 which went to above 450 within 5-10 mins and Traders booked great profit.

For tomorrow, SGX Nifty is indicating a gap-up opening. We would see a good up-move in BankNifty once we would break the yellow falling resistance line. If we open with a big gap-up would be looking for an opportunity to sell at upper levels.

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above 35150
Sell Below 34950

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

Happy Trading!
InvestPro India Team
Comment: Gap-up and rejection from upper levels, Traders bought 35400 PE in the morning made 100% profit.

Subscription Plans: https://investproindia.in/subscription

Whatsapp @8287021744

Telegram Channel - https://t.me/tradepropublic

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

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.