InvestPro_India

BankNifty Intraday Trade Setup | 7th January 2022

NSE:BANKNIFTY   NIFTY BANK
BankNifty opened with a Gap-down opening due to weak global cues, BankNifty made a low around 37050 and we saw a great recovery from lower levels and BN gave almost 700 points upmove.

Trades we took today -

> Bought BankNifty 37300 PE 13th Jan at 440 which we booked at a cost due to slow movement in the morning
> Bought BankNifty 37500 CE 13th Janat 390 which we booked with 50 points loss
> Bought BankNifty 37300 CE 13th Janat 460 which made a high above our last Target 580 and Traders booked great profit in this Trade
> Bought BankNifty 37300 PE at 110 which made a high above our last Target 150 and Traders booked great profit in this Trade

Overall, Choppy Day but BankNifty Option Buyers booked Great Profits in the second half.

For Tomorrow 37370 is important to hold, we may see a good down move below that level.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above 37600
Sell Below 37370

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

Happy Trading!
InvestPro India Team
Trade closed: target reached: Buy Trade Triggered, 1st & 2nd Targets 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.