BankNifty Intraday Trade Setup | 16th March

BankNifty opened with a gap-up around 35500 and we saw an up move towards 35643 but BankNifty couldn't sustain at higher levels and we saw sharp selling in 2nd Half.

Trades we took today -

> Bought BankNifty 35000 PE at 350, it went above to our 3rd Target 440 and Traders booked great profit
> Bought BankNifty 35600 CE at 470 which we booked with 50 points loss
> Bought BankNifty 34800 PE at 360, it went above to our 1st Target 400 and Traders booked profit
> Bought BankNifty 34800 PE at 310 which we booked with 40 points loss
> Bought BankNifty 35800 CE at 420 which we booked with 60 points loss

Overall not a good day and BankNifty Option Buyers booked loss.

Tomorrow if BankNifty sustain below 34900, we may see a fast down move.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above 35200
Sell Below 34900

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

Happy Trading!
InvestPro India Team

Comment:

Short BankNifty @ 35700 SL 35820

Comment:

2:15 - 35560, Gaining 140 points.