BankNifty opened with a big gap-down below our Sell level around 37200 and made its day low at 35876 in the first 15 mins candle. BankNifty tested the resistance level of 37300 but couldn't sustain above that.
Trades we took on Friday, 1st Oct:
> Bought BankNifty 36800 PE at 310 which we booked with 50 points loss. > Bought BankNifty 37100 PE at 310 which went to above 410 and Traders booked great profit in this trade.
BankNifty has formed a hammer candle on a daily time-frame and we can see a good upmove if BankNifty sustained above 37350 in the morning.
Expectations for Tomorrow: Trending day.
Intraday Levels: Buy Above 37350 Sell Below 37050
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Happy Trading! InvestPro India Team
Comment
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As expected, got a good up-move above 37350. 1st and 2nd Targets done.