BankNifty Intraday Trade Setup | 29th March

Mar 28, 2022

BankNifty opened with a small gap-up near resistance 35600 and we saw a sharp fall at open. BankNifty made low around 35000 which was a strong support zone and we again saw 700 points upmove from lower levels.

Trades we took today -

> Bought BankNifty 35000 PE at 390, it went above our 1st Target 440 and Traders booked profit
> Bought BankNifty 35600 CE at 300, it went above our Last Target Targets 410 and Traders booked profit
> Bought BankNifty 35000 CE 7th April at 660, it made a high around 900 and Traders booked great profit in this trade
> Bought BankNifty 35400 PE at 340 which we booked around cost due to slow movement
> Bought BankNifty 36000 CE at 330 which we booked with 40 points loss

Overall, it was a good day and BankNifty option buyers booked great profit in CE.

Tomorrow if BankNifty sustains above 35750, we may see another upmove

Expectations for Tomorrow: Trending Day.

Intraday Levels:
Buy Above 35750
Sell Below 35480

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

Happy Trading!
InvestPro India Team