BankNifty Expiry Trade Setup | 5th May
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BankNifty opened with a gap-up around 36288 and after making a day high in the first 15 mins at 36309 we saw selling towards 35750 zones which provided some cushion but the RBI rate hike news triggered a fresh fall and broke important support of 35500.
Trades we took on Expiry day, 13th April-
> Bought BankNifty 36400 PE at 340 which we booked at 315 with 25 points loss
> Bought BankNifty 36100 CE at 340, it went above our 1st Target of 370 and Traders booked profit
> Bought BankNifty 36400 PE at 330, it went above our Last Target of 410 and Traders booked profit
> Bought BankNifty 35800 CE at 310, it went above our Last Target of 410 and Traders booked profit
Overall, it was a wonderful day for BankNifty option buyers.
Tomorrow if BankNifty breaks 35150 on the downside, we expect a further down-move.
Expectations for Tomorrow: Range-bound day, Volatality after 2:15 PM.
Intraday Levels:
Buy Above 35520
Sell Below 35150
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Trades we took on Expiry day, 13th April-
> Bought BankNifty 36400 PE at 340 which we booked at 315 with 25 points loss
> Bought BankNifty 36100 CE at 340, it went above our 1st Target of 370 and Traders booked profit
> Bought BankNifty 36400 PE at 330, it went above our Last Target of 410 and Traders booked profit
> Bought BankNifty 35800 CE at 310, it went above our Last Target of 410 and Traders booked profit
Overall, it was a wonderful day for BankNifty option buyers.
Tomorrow if BankNifty breaks 35150 on the downside, we expect a further down-move.
Expectations for Tomorrow: Range-bound day, Volatality after 2:15 PM.
Intraday Levels:
Buy Above 35520
Sell Below 35150
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Ghi chú
Gap-up opening, no trade as per set-up.
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Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research.
Whatsapp @8287021744
Telegram Channel - t.me/tradepropublic
Views are purely educational in nature. You are solely responsible for any decisions you take on basis of my research.
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