BankNifty Intraday Trade Setup | 14th January 2022
Updated
BankNifty opened with a small Gap-down and we saw selling in the morning towards the 38400 zones which acted as support and BankNifty remained in a 100-150 points range throughout the day.
Trades we took today -
> Bought BankNifty 38700 PE at 520 which went towards our First Target 570 and Traders booked profit in this Trade
> Bought BankNifty 38800 CE at 400 which went above our First Target 450 and Traders booked profit in this Trade
> Bought BankNifty 38700 CE at 400 which we booked with 10 points loss as there was not much movement
> Bought BankNifty 38500 PE at 430 which went towards our Second Target 500 and Traders booked profit in this Trade
Today was a weekly expiry and we always trade the next week option to avoid fast premium decay in the range-bound market.
Overall, a range-bound expiry though Traders booked some profit.
Today's low is important, if BankNifty breaks 38370 we may see a fast down move for 120 - 250 points.
Expectations for Tomorrow: Trending Day.
Intraday Levels:
Buy Above 38600
Sell Below 38370
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Trades we took today -
> Bought BankNifty 38700 PE at 520 which went towards our First Target 570 and Traders booked profit in this Trade
> Bought BankNifty 38800 CE at 400 which went above our First Target 450 and Traders booked profit in this Trade
> Bought BankNifty 38700 CE at 400 which we booked with 10 points loss as there was not much movement
> Bought BankNifty 38500 PE at 430 which went towards our Second Target 500 and Traders booked profit in this Trade
Today was a weekly expiry and we always trade the next week option to avoid fast premium decay in the range-bound market.
Overall, a range-bound expiry though Traders booked some profit.
Today's low is important, if BankNifty breaks 38370 we may see a fast down move for 120 - 250 points.
Expectations for Tomorrow: Trending Day.
Intraday Levels:
Buy Above 38600
Sell Below 38370
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Trade closed: target reached
Sell Trade Triggered, All Targets Done.
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