Nifty Intraday Trade Setup | 4th March

Nifty opened with a gap-up around 16730 and made high at 16768 but couldn't sustain at upper levels and we saw a selling since open. Nifty made a low at 16480 which was yesterday's low which provided some cushion and Nifty was moving in a small range in the last 2 hours.

Trades we took Today:

> Bought Nifty 16800 PE at 115, it went above our 4th Target 151 and Traders booked profit in this Trade
> Bought Nifty 16500 CE at 190 which we booked with 20 points loss

We focused more on BankNifty and took a total of 7 Trades, and booked profit in 6 Trades. Overall a wonderful day.

Tomorrow, if Nifty sustains below 16470 we may have a follow-up down move.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above - 16600
Sell Below - 16470

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Happy Trading!
InvestPro India Team

Comment:

Gap-down Opening. No Trade as per Set-up.