BankNifty opened with a minor gap-up, and we bought 36500 PE at 300 in the morning which went to 390 in just 5-10 mins and Traders booked good profit. We also bought 36400, 36500 PE, and 36400 CE and closed all in profit. We also bought 36500 CE at 260 but we saw a sudden fall of 200 points and we did exit with 40 points SL. Overall, it was a good day for Option Buyers.
For tomorrow, BankNifty may give a good up-move above 36550 but be cautious at upper levels and don't trade options without SL. We would be looking for Buying opportunity in Morning if BankNifty comes down to 36250-36200 levels.
Expectations for Tomorrow: Range-bound day, Selling after 2:00 PM.
Intraday Levels: Buy Above 36550 Sell Below 36250
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading! InvestPro India Team
Trade closed: target reached
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All Targets Done on the Buying Side, we also booked bought 36900 PE around 220 and booked great profit.