BankNifty Intraday Trade Setup | 16th Feb

15 בפבר׳ 2022

BankNifty opened with a Gap-up and we saw rejection in the morning from the 37170 zones. Today was a volatile day, BankNifty broke yesterday low and then gave a sharp recovery of 1500 points.

Trades we took today -

> Bought BankNifty 37000 PE at 360, it went above our Last Target 465 and Traders booked great profit in this Trade
> Bought BankNifty 36900 PE at 470 which we booked with a minor profit of around 495
> Bought BankNifty 37000 PE at 380, it went above our 1st Target 420 and Traders booked profit in this Trade
> Bought BankNifty 37200 PE at 430 which we booked with 60 points loss
> Bought BankNifty 37200 CE at 420, it went above our Last Target 520 though we booked it near 440 due to slow movement
> Bought BankNifty 37400 PE at 380, it went above our 1st Target 420 and Traders booked profit in this Trade

Overall, great day and BankNifty Option Buyers booked profit.

Tomorrow, if BankNifty sustains above 38220, we may see a follow-up upmove. We are seeing high volatility due to Russia Ukraine new, trade with caution.

Expectations for Tomorrow: Volatile Day

Intraday Levels:
Buy Above 38220
Sell Below 37850

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Happy Trading!
InvestPro India Team