InvestPro_India

BankNifty Intraday Trade Setup | 5th January 2022

NSE:BANKNIFTY   NIFTY BANK
BankNifty opened flat and after a choppy move in the morning, BankNifty gave a good up-move and faced resistance around our last level 36880 and remained in the range.

Trades we took today -

> Bought BankNifty 35400 CE at 390 which we booked with 50 points loss
> Bought BankNifty 36800 PE at 430 which we booked with 40 points loss
> Bought BankNifty 36500 CE at 360 which we booked with 40 points loss

Overall, it was a bad day for BankNifty Option Buyers.

Tomorrow, if BankNifty sustains above 36900 in the morning we may see another 150-300 points upmove but remain cautious as 37000 is psychological resistance.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above 36900
Sell Below 36700

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 All Targets Done.

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Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research.