InvestPro_India

BankNifty Intraday Trade Setup | 17th January 2022

NSE:BANKNIFTY   NIFTY BANK
BankNifty opened with a Gap-down below our Sell Level 38370, we saw selling on the morning session and BankNifty made low around 38000 which was a psychological support level and we saw great recovery for more than 400 points from lower levels.

Trades we took today -

> Bought BankNifty 38300 PE at 470 which we booked with 70 points loss
> Bought BankNifty 38300 PE at 430 which made a high around 540 and Traders booked profit in this Trade
> Bought BankNifty 38000 CE at 510 which made a high around 700 and Traders booked profit in this Trade
> Bought BankNifty 38200 CE at 410 which we booked with 60 points loss

Overall, Traders made some losses in morning trades but turned that into profit in the second half.

Tomorrow, BankNifty is expected to open with a Gap-up or Gap-down due to HDFCBank Result.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above 38450
Sell Below 38270

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

Happy Trading!
InvestPro India Team
Trade closed: target reached: Sell Trade Triggered and 1st Target Done.

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