BankNifty Expiry Trade Setup | 10th Feb

9 feb 2022

BankNifty opened with a Gap-up near our Buy level 38220 and gave a good upmove towards the 38530 zones, after moving in minor a range BankNifty gave the breakout and closed near day high.

Trades we took today -

> Bought BankNifty 38600 PE at 440 and added more near 400, it went to our 1st Target 490 and Traders booked profit
> Bought BankNifty 38800 PE at 480 which we booked with 50 points loss
> Bought BankNifty 38500 PE Feb Month Expiry at 660, it went above our 2nd Target 750 and Traders booked profit
> Bought BankNifty 38000 CE at 480, it went above our 2nd Target 560 and Traders booked profit

Overall, a choppy day but we booked good profit in the BankNifty Option.

Tomorrow, if BankNifty sustains above 38660 we may see a follow-up upmove.

Expectations for Tomorrow: Range-bound day, Volatality after 12:00 PM. RBI Policy would be announced tomorrow around 11:30 AM and the market can be highly volatile during that time.

Intraday Levels:
Buy Above 38660
Sell Below 38470

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

Happy Trading!
InvestPro India Team

10 feb 2022

Trade chiuso: obiettivo raggiunto

Buy Trade Triggered, All Targets Done.