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