BankNifty Expiry Trade Setup | 6th January 2022

BankNifty opened flat, started moving upside since opening and we again saw a great 1000 points move.

Trades we took today -

> Bought BankNifty 37300 PE at 340 which we went above 400 and Traders booked profit in this Trade
> Bought BankNifty 36900 CE at 490 which made a high above our last Target 625 and Traders booked great profit in this Trade
> Bought BankNifty 37000 CE at 440 and added more at 390 which we booked with minor profit
> Bought BankNifty 37700 PE at 430 which we booked with 70 points loss
> Bought BankNifty 37100 CE at 420 which made a high above our last Target 550 and Traders booked great profit in this Trade
> Bought BankNifty 37300 CE at 490 which made a high around our 2nd Target 600 and Traders booked great profit in this Trade
> Bought BankNifty 38000 PE at 300 which made a high above our last Target 425 and Traders booked great profit in this Trade

Overall, Today BankNifty Option Buyers booked Wonderful Profits.

If BankNifty sustains above 37820 we can again expect 150-250 points upmove but 38000 would act as psychological resistance so be cautious in that zone.

Expectations for Tomorrow: Range-bound Day, Volatality after 1:15 PM.

Intraday Levels:
Buy Above 37820
Sell Below 37500

To motivate me, Please like the idea If you agree with the analysis.

Happy Trading!
InvestPro India Team

Trade closed manually:

Gap-down opening, no trade as per set-up.