BankNifty Expiry Trade Setup | 10th March

BankNifty opened with a gap-up around 33250 and we saw some weakness in the morning session which brought BankNifty towards 32950 zones but we saw a great upmove after consolidation and BankNifty made high at 33969.

Trades we took today -

> Bought BankNifty 33400 CE at 320 which we booked with a small profit at 355
> Bought BankNifty 33600 CE at 250 which we booked with 40 points loss
> Bought BankNifty 34000 CE at 210 which we booked with 30 points loss
> Bought BankNifty 33800 CE at 260, it went above to our Last Target 345 and Traders booked great profit

Initially, it was a choppy session and Traders booked a small profit in BankNifty though Nifty gave a clear rally today.

Tomorrow if BankNifty sustain above 33950, we may see a follow-up upmove.

Expectations for Tomorrow: Volatile Day.

Intraday Levels:
Buy Above 33950
Sell Below 33500

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

Happy Trading!
InvestPro India Team

Commento:

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