BankNifty Intraday Trade Setup | 22nd April

BankNifty opened with a gap-up around 36500 and after making a low near 36400 BankNifty gave a trending move upside though moves were choppy and Option Buyers couldn't get benefit.

Trades we took on Expiry day, 13th April-

> Bought BankNifty 36800 PE at 310 which we booked with 50 points loss
> Bought BankNifty 36900 PE at 340, it made a high above our Last Target of 440 and Traders booked profit
> Bought BankNifty 36800 PE at 320, it made a high above our 2nd Target of 390 and Traders booked profit
> Bought BankNifty 36900 PE at 300, it made a high above our 1st Target of 340 and Traders booked profit
> Bought BankNifty 36500 CE at 160, it made a high above our 1st Target of 190 and Traders booked profit
> Bought BankNifty 36700 PE at 160 which we booked with 20 points loss
> Bought BankNifty 36600 CE at 110, it made a high around 220 and Traders booked great profit

Overall BankNifty Option buyers made a profit on weekly expiry.

Tomorrow if BankNifty breaks 36900 on the upside, we can expect an upmove but the 37000 zone will act as resistance so book your profit quickly.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above 36900
Sell Below 36550

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

Happy Trading!
InvestPro India Team

Trade closed: target reached:

Taken Sell Trade at Open, 1st & 2nd Targets Done.