BankNifty Intraday Trade Setup | 7th Feb

6 Feb 2022

BankNifty opened with a Gap-up, again faced resistance around 39300 zones and we again saw a good down move from upper levels.

Trades we took today -

> Bought BankNifty 39300 CE at 410 which we booked with 60 points loss
> Bought BankNifty 39100 CE at 380, it went above our Last Target 4865 and Traders booked great profit
> Bought BankNifty 39800 PE at 520, it went above our First Target 590 and Traders booked profit
> Bought BankNifty 38800 PE again at 530 which we booked with minor 40-50 points profit

Overall great day for BankNifty Option Buyers.

Tomorrow, if BankNifty breaks 38690 we may again see a fast down move of 110-250 points.

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above 38920
Sell Below 38690

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

Happy Trading!
InvestPro India Team

7 Feb 2022

Dagangan ditutup: sasaran tercapai

Sell Trade Triggered and All Targets Done.