BankNifty Intraday Trade Setup | 2nd November

BankNifty opened with a gap-up, we saw a sharp fall in the morning BankNifty took support around 39120 and we saw a good up-side rally.

Trades we took Today:

> Bought BankNifty 39400 PE at 310 which made a high above 500 but as it was a fast move only a few Traders could catch this
> Bought BankNifty 39600 CE at 300 which we booked with 45 points loss
> Bought BankNifty 39500 CE at 300 which made a high around 375 and Traders booked good Profit in this Trade
> Bought BankNifty 39500 CE at 300 which made a high around 375 and Traders booked good Profit in this Trade
> Bought BankNifty 39500 CE again at 300 which made a high above 400 and Traders booked great Profit in this Trade

Overall, a good day for BankNifty Option Buyers.

For tomorrow, We can see another upmove once BankNifty breaks 39850 on the upside but be cautious as 40000 is a psychological resistance level.

Expectations for Tomorrow: Range-bound day.

Intraday Levels:
Buy Above 39850
Sell Below 39580

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

Happy Trading!
InvestPro India Team

Trade closed: target reached:

Buy Trade Triggered and 1st and 2nd Targets Done.