BankNifty Intraday Trade Setup | 11th March

Mar 10, 2022

BankNifty opened with a huge gap-up around 34952 and made high around 35350 where BankNifty faced rejection and we saw more than 900 points fall from day high.

Trades we took today -

> Bought BankNifty 35200 CE at 160 which we booked with 50 points loss
> Bought BankNifty 35000 PE at 330 which we booked with 50 points loss
> Bought BankNifty 35000 PE at 90, it went above to our First Target 180 and Traders booked profit
> Bought BankNifty 35000 PE at 120, it went above to our Last Target 240 and Traders booked profit
> Bought BankNifty 35000 CE at 130 which we booked with 40 points loss
> Bought BankNifty 34500 PE at 80, it went above to our Last Target 165 and Traders booked profit. Few Traders trailed the SL and it made high above 260

Highly volatile day and BankNifty Option Buyers booked profit.

Tomorrow if BankNifty sustain below 34200, we may see a down move towards 34000 zones.

Expectations for Tomorrow: Trending Day.

Intraday Levels:
Buy Above 34600
Sell Below 34200

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

Happy Trading!
InvestPro India Team

Mar 13, 2022

Trade closed: target reached

Buy Trade Triggered, 1st & 2nd Targets Done.