BankNifty Intraday Trade Setup | 27th April

26 Apr 2022

BankNifty opened with a gap-up around 36530 and after making a low near 36600 we saw a range-bound movement throughout the day from 36600 - 36300.

Trades we took on Expiry day, 13th April-

> Bought BankNifty 36600 PE at 330 which we booked at 320 with 10 points loss
> Bought BankNifty 36600 PE again at 330 which we booked at 350 with 20 points profit
> Bought BankNifty 36600 PE again at 350, it made a high above our last Target 360 and Traders booked profit
> Bought BankNifty 36600 PE again at 350, it made a high above our last Target of 445 and Traders booked profit though we asked safe Traders to exit at cost because of the slow movement

Overall BankNifty Option buyers made a profit on a range-bound day.

Tomorrow if BankNifty breaks 36600 on the upside, we can expect a follow-up upmove.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above 36600
Sell Below 36250

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

Happy Trading!
InvestPro India Team

27 Apr 2022

Nota

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