BankNifty Intraday Trade Setup | 16th November

BankNifty opened with Gap-up above our Buy Level of 38830 and made a high around 39100 in the first 15 mins which also acted as resistance and BankNifty lost all the gains.

Trades we took today -

> Bought BankNifty 39000 PE at 240 which made a high above 340 in just 10-15 mins and Traders booked great profit in this Trade
> Bought BankNifty 38900 CE at 280 which we booked with 20 points profit
> Bought BankNifty 39000 CE at 260 which we booked at a cost due to slow movement
> Bought BankNifty 38800 PE at 310 which made a high around 380 and Traders booked great profit in this Trade
> Bought BankNifty 38800 CE at 300 which we booked with 50 points loss

Overall, a good day and Traders booked great profit in Morning BankNifty Option Trades Only.

Today's low is important and if BankNifty breaks 38600, we can see a fast down-move.

Expectations for Tomorrow: Range-bound Day.

Intraday Levels:
Buy Above 38780
Sell Below 38600

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

Happy Trading!
InvestPro India Team

Trade chiuso: obiettivo raggiunto:

Sell Trade Triggered and 1st Two Targets Done.

Commento:

All Targets done, fast move.