BankNifty opened with a gap-down around 35700 and after making a low around 35580 in the first 15 mins it showed some strength but it faced resistance around 35900 which was our sell level and we saw almost 500 points from higher levels.
Trades we took today -
> Bought BankNifty 35600 CE at 210, it went above to our 1st Target 250 and Traders booked profit > Bought BankNifty 36000 PE at 370 which we booked at 320 with 30 points loss > Bought BankNifty 35600 CE at 340, it went above to our 1st Target 390 and Traders booked profit > Bought BankNifty 36000 PE at 240, it went above to our 1st Target 290 and Traders booked profit > Bought BankNifty 35600 CE at 310, it went above to our Last Target 410 and Traders booked profit > Bought BankNifty 35600 CE at 170 which we booked at 140 with 30 points loss > Bought BankNifty 35500 PE at 130, it went above to our 1st Target 180 and Traders booked profit > Bought BankNifty 35400 CE at 190, it went above to our 1st Target 240 and Traders booked profit > Bought BankNifty 35400 CE at 180, it went above to our Last Target 280 and Traders booked profit > Bought BankNifty 35600 CE at 85, it went above to our 1st Target 125 and Traders booked profit
Overall, it was a range-bound day as per analysis but BankNifty Option Buyers booked a great profit in 8 Trades out to 10.
Tomorrow if BankNifty sustains below 35400, we may see a fast down move.
Expectations for Tomorrow: Trending Day.
Intraday Levels: Buy Above 35700 Sell Below 35400
To motivate me, Please like the idea If you agree with the analysis.
the other side story would be great if had focused on the level.. I would be landing on 1 million ... got lot of experience .. started fresh for the second time don't know when will I blow myself again...
srinivasrepala3
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the mistakes I made just ignored your levels yesterday. not having stop loss limit. ... started from 20k from 32k level and made 4 lakns till 36.6k.. boooom lost everything in one day
InvestPro_India
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@srinivasrepala3, Trading without SL on expiry is committing suicide.