BankNifty gave both sides volatile moves as we analyzed for today. We opened with a big gap-up, which we used to sell and it was very easy to book great profits near support levels. BankNifty is falling for the last 5 trading sessions and we may see a bounce of 400-500 points so be cautious if you sell in Intraday.
Trades we took today: > Sold BankNifty Fut at 34800 and booked almost 340 points. > Sold 34500 Put to play the bounce at 175 and booked near 90. > Bought 34500 Put again at 95 and booked near 250.
Overall great expiry for our trading room subscribers.
Expectations for Tomorrow: Trending Move.
Resistance: 34322 Support: 33470
Intraday Levels: Buy Above 34060 Sell Below 33600
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Happy Trading! InvestPro India Team
Trade closed: target reached
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In the morning, we got the sell trade through this setup, and in the afternoon we got the Buy signal. Targets met on both sides.