InvestPro_India

BankNifty Intraday Trade Setup | 18th January 2022

NSE:BANKNIFTY   NIFTY BANK
BankNifty opened flat and we saw huge volatility in the morning due to HDFCBank as expected. BankNifty lost all morning gains and closed in the red.

Trades we took today -

> Bought BankNifty 38300 CE at 370 which went above our Last Target 510 but due to fast movement, only a few Traders could take this Trade
> Bought BankNifty 38600 PE at 430 which made a high above our Last Target 550 and Traders booked profit in this Trade
> Bought BankNifty 38400 PE at 410 which we booked with 15 points loss due to slow movement
> Bought BankNifty 38300 CE at 310 which went above our First Target 350 and Traders booked profit in this Trade
> Bought BankNifty 38400 PE again at 380 which went near to our First Target 440 and Traders booked small profit in this Trade

Overall, Traders booked small profits on a choppy day.

Tomorrow, we may see a fast down-move if BankNifty breaks 38150 in the morning.

Expectations for Tomorrow: Range-bound Day.

Intraday Levels:
Buy Above 38400
Sell Below 38150

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

Happy Trading!
InvestPro India Team
Trade closed: target reached: Breakout, Buy Trade Triggered and All Targets Done.

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