BankNifty Intraday Trade Setup | 10th May
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BankNifty opened with a gap-down around 34225 and after making a low around 33925 we saw a bounce which took BankNifty to above 34550 but that acted as a rejection zone and we again saw a fall towards 34100 zones.
Trades we took yesterday-
> Bought BankNifty 34200 CE at 390 which we booked at 370 with 20 points loss
> Bought BankNifty 34000 CE at 430 which we booked at 410 with 20 points loss
> Bought BankNifty 34100 PE at 440, it went above our 1st Target of 490 and Traders booked profit
> Bought BankNifty 34000 CE at 400, it went above our 2nd Target of 460 and Traders booked profit
> Bought BankNifty 34100 PE at 410 which we booked at 360 with 50 points loss
> Bought BankNifty 34000 CE at 390, it went above our 1st Target of 430 and Traders booked profit
> Bought BankNifty 34300 PE at 390 which we booked at 345 with 45 points loss
> Bought BankNifty 34500 CE at 380which we booked at 330 with 50 points loss
Overall, it was not a good day for BankNifty option buyers.
Tomorrow if BankNifty breaks 34600 on the upside, we can expect an up-move.
Expectations for Tomorrow: Range-bound day.
Intraday Levels:
Buy Above 34600
Sell Below 34000
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Trades we took yesterday-
> Bought BankNifty 34200 CE at 390 which we booked at 370 with 20 points loss
> Bought BankNifty 34000 CE at 430 which we booked at 410 with 20 points loss
> Bought BankNifty 34100 PE at 440, it went above our 1st Target of 490 and Traders booked profit
> Bought BankNifty 34000 CE at 400, it went above our 2nd Target of 460 and Traders booked profit
> Bought BankNifty 34100 PE at 410 which we booked at 360 with 50 points loss
> Bought BankNifty 34000 CE at 390, it went above our 1st Target of 430 and Traders booked profit
> Bought BankNifty 34300 PE at 390 which we booked at 345 with 45 points loss
> Bought BankNifty 34500 CE at 380which we booked at 330 with 50 points loss
Overall, it was not a good day for BankNifty option buyers.
Tomorrow if BankNifty breaks 34600 on the upside, we can expect an up-move.
Expectations for Tomorrow: Range-bound day.
Intraday Levels:
Buy Above 34600
Sell Below 34000
To motivate me, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India Team
Nota
1st Target Done.Dagangan ditutup: sasaran tercapai
Buy Trade triggered and 1st Target done.
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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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