BankNifty Intraday Trade Setup | 3rd December

BankNifty opened with a minor Gap-down and after consolidation in the morning, we saw a good upmove. Though BankNifty was underperforming Nifty we saw a good move in the last 2 hours.

Trades we took today -

> Bought BankNifty 36100 CE at 330 which we booked with 70 points loss
> Bought BankNifty 36100 CE again at 300 which made a high around 400 and Traders booked good Profit in this Trade
> Bought BankNifty 36500 PE at 240 which we booked with 65 points loss
> Bought BankNifty 36200 CE at 290 which made a high around 380 and Traders booked good Profit in this Trade
> Bought BankNifty 36100 CE at 250 which we booked with 50 points loss

Overall, it was not a good day for BankNifty Option Buyers.

We may again see an upmove once BankNifty would start trading above 36550 but be cautious as 36750 would act as major resistance.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above 36550
Sell Below 36300

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Happy Trading!
InvestPro India Team

Trade closed: target reached:

Targets Done on Both Buying and Selling Side.