BankNifty Expiry Trade Setup | 26th August

As mentioned we saw good selling from 35900 - 36000 zone, we bought 36000 PE in the morning at 270 which went to above 450 in just 15-20 mins. After, initial move, we traded in a small range for almost the entire day. We also bought 35800 PE and 35500 in the second half and Traders booked good profit in both the trades.

Today, BankNifty was able to hold the phycological support of 35500 but if it breaks 35450 tomorrow on the downside, we may see a sharp selling, and Put Buyers can easily make 100% profit. If BankNifty moves up-side be cautious in the 35900 - 36000 zone.

Expectations for Tomorrow: Range-bound day, Volatility after 1:30 PM.

Intraday Levels:
Buy Above 35700
Sell Below 35450

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

Happy Trading!
InvestPro India Team

Comment:

Booked profit in 35300 and 35400 CE since morning.