BankNifty Intraday Trade Setup | 21st December

BankNifty opened with Gap-down below the last support zone 35300 due to weak Global Cues and we saw panic selling in the morning which came to BankNifty near to 34000 level and took support in this zone.

Trades we took today -

> Bought BankNifty 35000 CE at 290 which we booked with 50 points loss
> Bought BankNifty 34400 PE at 400 which we booked at a cost due to choppy movement
> Bought BankNifty 34400 PE again at 450 which made a high around 600 and Traders booked great profit in this Trade
> Bought BankNifty 34300 CE at 450 which we booked with 50 points loss

BankNifty is oversold and expecting another upmove if it sustains above 34530 tomorrow.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above 34530
Sell Below 34350

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

Happy Trading!
InvestPro India Team

Comment:

Gap-up Opening. No Trade As per Set-up Today.