BankNifty Intraday Trade Setup | 10th January 2022

BankNifty opened with a Gap-up opening above our Buy level 37600 and BankNifty gave 500 points upmove in the morning. We saw a sharp sell-off around 10:30 but closed 250 points in green.

Trades we took today -

> Bought BankNifty 37700 PE at 390 which we booked with 50 points loss
> Bought BankNifty 37800 PE at 360 which we booked with 30 points loss
> Bought BankNifty 38000 PE at 440 which went above our Last Target 575 and Traders booked great profit in this Trade
> Bought BankNifty 37700 PE at 380 which made a high around out 2nd Target 470 and Traders booked good profit in this Trade
> Bought BankNifty 37800 CE at 350 which made a high above our 3rd Target 445 and Traders booked good profit in this Trade

Overall, a Great day for BankNifty Option Buyers.

Tomorrow, we may see a good down-move once BankNifty breaks the lower yellow support line.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above 37830
Sell Below 37600

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Happy Trading!
InvestPro India Team

Comment:

Gap-up Opening. No Trade as per set-up