BankNifty Intraday Trade Setup | 25th April

BankNifty opened with a gap-down around 36580 and after making a low near 36250 which was a support zone we saw a bounce towards 36450 zones but BankNifty couldn't sustain at upper levels and made a new low at 35991.

Trades we took on Expiry day, 13th April-

> Bought BankNifty 36500 PE at 380, it made a high above our Last Target of 480 and Traders booked profit
> Bought BankNifty 36400 PE at 400, it made a high above our 2nd Target of 455 and Traders booked profit
> Bought BankNifty 36500 CE at 350 which we booked at 335 with 15 points loss

Overall it was a range-bound day and BankNifty Option buyers made some profit.

Tomorrow if BankNifty breaks 35900 on the downside, we can expect a fast down move.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above 36250
Sell Below 35900

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Happy Trading!
InvestPro India Team

Comment:

Big gap-down opening, no trade as per set-up.