InvestPro_India

BankNifty Expiry Trade Setup | 13th January 2022

NSE:BANKNIFTY   NIFTY BANK
BankNifty opened with a Gap-up above 38700 and after some consolidation, we saw a follow-up upmove towards 38850. It was a range-bound day so not much opportunity for Option Buyers.

Trades we took today -

> Bought BankNifty 38900 PE at 350 which went above 400 but only a few Traders could take the position as it moved fast
> Bought BankNifty 38400 CE at 440, added more at 400 which went above our 2nd Target 510 and Traders booked good profit in this Trade
> Bought BankNifty 39000 PE at 340 which went near to 500 and Traders booked good profit in this Trade

Overall, a BankNifty Option Buyers booked a small profit on a choppy day.

BankNifty was taking support at 38600, if support breaks tomorrow we may see a fast move.

Expectations for Tomorrow: Range-bound Day, Volatality after 12:20 PM.

Intraday Levels:
Buy Above 38810
Sell Below 38600

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.

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Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research.