BankNifty Expiry Trade Setup | 12th May
Updated
BankNifty opened with a gap-up around 34690 and after making a high at 34727 we saw selling which brought BankNifty towards 34150 zones which acted as support and we saw more than 600 points upmove from lower levels.
Trades we took yesterday-
> Bought BankNifty 34800 PE at 290, it went above our 3rd Target of 360 and Traders booked profit
> Bought BankNifty 34500 CE at 310, it went above our 1st Target of 350 and Traders booked profit
> Bought BankNifty 34800 PE at 340, it went above our Last Target of 425 and Traders booked profit
> Bought BankNifty 34500 PE at 330 which we booked with 25 points loss at 305
> Bought BankNifty 34500 CE again at 240, it went above our Last Target of 340 and Traders booked profit
Overall, it was a wonderful day and BankNifty Option Buyers made a significant profit.
Tomorrow if BankNifty breaks 34800 on the upside, we can expect an up-move.
Expectations for Tomorrow: Negative morning session till 10:30.
Intraday Levels:
Buy Above 34800
Sell Below 34480
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Trades we took yesterday-
> Bought BankNifty 34800 PE at 290, it went above our 3rd Target of 360 and Traders booked profit
> Bought BankNifty 34500 CE at 310, it went above our 1st Target of 350 and Traders booked profit
> Bought BankNifty 34800 PE at 340, it went above our Last Target of 425 and Traders booked profit
> Bought BankNifty 34500 PE at 330 which we booked with 25 points loss at 305
> Bought BankNifty 34500 CE again at 240, it went above our Last Target of 340 and Traders booked profit
Overall, it was a wonderful day and BankNifty Option Buyers made a significant profit.
Tomorrow if BankNifty breaks 34800 on the upside, we can expect an up-move.
Expectations for Tomorrow: Negative morning session till 10:30.
Intraday Levels:
Buy Above 34800
Sell Below 34480
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Trade closed: target reached
As updated, we saw a pretty Negative morning session.
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Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research.
Whatsapp @8287021744
Telegram Channel - t.me/tradepropublic
Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research.
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