BankNifty Intraday Trade Setup | 11th May

BankNifty opened flat around 34240 and after making a low near 34175 we saw an upmove BankNifty made a high near 34800 which acted as a rejection zone and profit booking was seen.

Trades we took yesterday-

> Bought BankNifty 34400 PE at 330, it went above our 1st Target of 360 and Traders booked profit
> Bought BankNifty 35000 CE May Expiry at 455, it went above our 1st Target of 550 and Traders booked profit
> Bought BankNifty 34700 PE at 260, it went above our Last Target of 325 and Traders booked profit
> Bought BankNifty 34500 CE at 315 which we booked with a loss at 285

Overall, it BankNifty option buyers booked profit on a volatile day.

Tomorrow if BankNifty breaks 35550 on the upside, we can expect an up-move.

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above 34550
Sell Below 34300

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

Happy Trading!
InvestPro India Team

Trade chiuso: obiettivo raggiunto:

Both Sell and Buy Traders Triggered and Targets done.