BankNifty Intraday Trade Setup | 7th December

BankNifty opened flat, we saw selling in morning BankNifty took support near 35900 zones and gave up-move towards 36350 which was also our Buying level but it couldn't sustain at upper levels and broke morning lower range in the second session.

Trades we took today -

> Bought BankNifty 36100 PE at 380 which made a high around 480 and Traders booked good Profit in this Trade
> Bought BankNifty 35900 CE at 530 which made a high around 630 and Traders booked good Profit in this Trade
> Bought BankNifty 36200 CE at 380 which we booked with 60 points loss
> Bought BankNifty 16th Dec 36000 PE at 480 which we booked with 40 points loss
> Bought BankNifty 36000 PE @ 400 which made a high around 500 and Traders booked good Profit in this Trade

Overall, a good day for BankNifty Option Buyers.

If BankNifty sustains below today's low we can see further selling in BankNifty.

Expectations for Tomorrow: Range-bound Day.

Intraday Levels:
Buy Above 35900
Sell Below 35680

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

Happy Trading!
InvestPro India Team

Comment:

No Trade as per set-up.