BankNifty Intraday Trade Setup | 13th May

12 thg 5, 2022

BankNifty opened with a gap-down due to weak global cues around 34330, we saw selling pressure since morning and BankNifty was keep forming lower lows. BankNifty took support at 33300 zones and we saw more than 250 points bounce in the last hour.

Trades we took yesterday-

> Bought BankNifty 34000 PE at 120, it went above our Last Target of 210, few Traders also did trail the SL and booked great profit
> Bought BankNifty 34100 CE at 170 which we booked with 30 points loss
> Bought BankNifty 34000 CE at 150 which we booked with 30 points loss
> Bought BankNifty 33800 PE at 210 which we booked with 40 points loss
> Bought BankNifty 33800 CE at 80, it went above our 2nd Target of 150 and Traders booked profit
> Bought BankNifty 33500 PE at 60, added more at 50. It went above our Last Target of 160 and Traders booked profit

Overall, BankNifty option buyers booked profit on a weekly expiry day.

Tomorrow if BankNifty breaks 33650 on the upside, we can expect an up-move.

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above 33650
Sell Below 33300

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

Happy Trading!
InvestPro India Team