Nifty Intraday Trade Setup | 22nd April

Nifty opened with a gap-up around 17242 and after making a low around 17215 Nifty gave a trending upmove though the move was very choppy and not good for Option Buyers.

Trades we took today -

> Bought Nifty 17400 PE at 165 which we booked with a minor loss of 10 points
> Bought Nifty 17050 CE at 190, it went above our 2nd Target of 220 and Traders booked profit
> Bought Nifty 17400 PE at 150 which we booked with 20 points loss
> Bought Nifty 17450 PE at 120 which we booked with a small profit of 15 points
> Bought Nifty 17600 PE at 255 which we booked with 15 points loss

Overall, it was not a good day for Nifty Option Buyers.

Tomorrow, if the Nifty sustains above 17450, another upmove is expected.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above - 17450
Sell Below - 17350

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

Happy Trading!
InvestPro India Team

Comment:

Gap-down opening, no trade as per set-up.