BankNifty Intraday Trade Setup | 6th October

BankNifty opened with a gap-down due to weak global cues and made a bottom around 37350 in the morning which was the support zone and as expected BankNifty gave a good up-move from those levels.

Trades we took Today:

> Bought BankNifty 37500 CE at 240 which made a high above 340 and Traders booked great profit in this trade.
> Bought BankNifty 37600 PE at 310 which went to above 360 and Traders booked great profit in this trade.
> Bought BankNifty 37600 PE again at 270 and we booked 40 points loss in that trade.
> Bought BankNifty 37600 CE around 280 in the afternoon which went to around 350 and few Traders booked good profit in this Trade as well.

Overall we booked good profit Today as well.

For tomorrow, we may see a good upmove if BankNifty sustains above 37780 in the morning but the 37950 - 38000 zone would be resistance for BankNifty so be cautious in that zone.

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above 37780
Sell Below 37600

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

Happy Trading!
InvestPro India Team

Comment:

1st and 2nd Targets done on Buying Side.
Also got the sell Trade and 1st Target done on the Sell side.