BankNifty Make or Break for April Month

Banknifty is at a critical level at the start of April Month.
If there is a Breakout or Breakdown in any direction then we may witness a highly trending month.
CMP 33500, Upside can be upto 40000 while breakdown may take Banknifty upto 28950

Strangle Option Strategy
Buy 40000 CE 29th April Expiry, CMP Rs 15 (Investment = Rs 375)
Buy 28000 PE 29th April Expiry, CMP Rs 51 (Investment = Rs 1275)
Total Cost Rs 66 - Investment = Rs 1650

Target - any one option reaches Rs 600
Return = Rs 15,000, Target Profit = Rs 13,350

RnR - 1 : 9

Commento:

28000 PE made a high of 225, should have been booked with Trailing SL.
Considering Profit of 150 points with TSL, Profit = 150*25 = Rs 3750
40000 CE still active will expire mostly @ Rs 0