BankNifty Intraday Trade Setup | 6th April

BankNifty opened with a gap-up near 38760 and we saw selling at open and BankNifty made a low around 38100 which acted as support and BankNifty again gave 600 points upmove from lower levels.

Trades we took today -

> Bought BankNifty 38600 CE at 290 which we booked with 50 points loss
> Bought BankNifty 38400 PE at 400, it made a high above our 3rd Target 490 and Traders booked profit
> Bought BankNifty 38200 CE at 340, it made a high above our Last Target 450 and Traders booked great profit
> Bought BankNifty 38400 CE at 280, it made a high above our Last Target 390 and Traders booked great profit
> Bought BankNifty 38500 CE at 340, it made a high above our 2nd Target 410 and Traders booked profit

Overall it was a great day for BankNifty Option Buyers.

Tomorrow if BankNifty breaks 37900 on the downside, we may see a fast down move.

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above 38220
Sell Below 37900

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

Happy Trading!
InvestPro India Team

Comment:

Gap-down Opening, no trade as per set-up.