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
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