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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We’re excited to launch our brand-new Telegram Support Channel dedicated to Gold (XAUUSD) trading! 🟡📈
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📲 Join now and invite your friends. Let’s grow and win together! 🌟
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
🚨 BIG ANNOUNCEMENT for XAUUSD Traders! 🚨
We’re excited to launch our brand-new Telegram Support Channel dedicated to Gold (XAUUSD) trading! 🟡📈
t.me/investprogoldsniper
📲 Join now and invite your friends. Let’s grow and win together! 🌟
We’re excited to launch our brand-new Telegram Support Channel dedicated to Gold (XAUUSD) trading! 🟡📈
t.me/investprogoldsniper
📲 Join now and invite your friends. Let’s grow and win together! 🌟
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.