BankNifty Intraday Trade Setup | 22nd Feb
Updated
BankNifty opened with a minor Gap-down below 37500 and made a low in the morning at 37156. BankNifty showed good 900 points upmove from lower levels but again faced rejection at 38050 zones.
Trades we took today -
> Bought BankNifty 37400 PE at 450, it went to our Last Target 560 and Traders booked great profit
> Bought BankNifty 37200 PE at 460 which we booked with 20 points loss
> Bought BankNifty 38000 CE at 390, it went to our 1st Target 450 and Traders booked profit
Overall, BankNifty Option Buyers booked profit on a highly volatile day.
Tomorrow, if BankNifty sustains below 37590 we may see a fast down move.
Expectations for Tomorrow: Volatile Day.
Intraday Levels:
Buy Above 37820
Sell Below 37590
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Trades we took today -
> Bought BankNifty 37400 PE at 450, it went to our Last Target 560 and Traders booked great profit
> Bought BankNifty 37200 PE at 460 which we booked with 20 points loss
> Bought BankNifty 38000 CE at 390, it went to our 1st Target 450 and Traders booked profit
Overall, BankNifty Option Buyers booked profit on a highly volatile day.
Tomorrow, if BankNifty sustains below 37590 we may see a fast down move.
Expectations for Tomorrow: Volatile Day.
Intraday Levels:
Buy Above 37820
Sell Below 37590
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Note
Big gap-down opening, no trade as per set-up.
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