BankNifty Expiry Trade Setup | 20th January 2022

BankNifty opened with a minor gap-down and we saw high volatility in the morning session. BankNifty was trading in a range with choppy moves.

Trades we took today -

> Bought BankNifty 38400 PE at 440 which we booked with 50 points loss
> Bought BankNifty 37800 CE at 470 which we booked with 50 points loss
> Bought BankNifty 38400 PE again at 490 which we booked with 50 points loss
> Bought BankNifty 38600 PE at 470 which went above our 2nd Target 610 and Traders booked profit in this Trade
> Bought BankNifty 37800 CE at 390 which went above our 1st Target 460 and Traders booked profit in this Trade
> Bought BankNifty 38400 PE at 470 which went above our Last Target 630 and Traders booked profit in this Trade

Overall, Choppy Day for BankNifty Option Traders.

Tomorrow, we may see an upmove for 150-250 points if BankNifty sustains above 38150.

Expectations for Tomorrow: Range-bound Day, Volatality after 1:00.

Intraday Levels:
Buy Above 38150
Sell Below 37800

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

Happy Trading!
InvestPro India Team

Trade closed: target reached:

Sell Trade Triggered and 1st Target Done.