As analyzed BankNifty remained in a range for most of the day. BankNifty opened with a minor gap-up and tested the support zone of 38150 in the morning and we saw a bounce of 250 points from the support zone.
Trades we took Today:
> Bought BANKNIFTY 38200 CE at 350 which made a high around 391 and Traders booked great profit in this. > Bought BANKNIFTY 38400 PE at 310 and we added more at 280 which we booked at 310.
Tomorrow we can see another upmove if BankNifty opens flat and sustains above 38600 in the morning but Wednesday is mostly volatile so be cautious at upper levels.
Expectations for Tomorrow: Volatile Day.
Intraday Levels: Buy Above 38600 Sell Below 38350
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