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
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