BankNifty Intraday Trade Setup | 6th May

2022年5月6日

BankNifty opened with a gap-up around 35713 and showed strength in the morning which took BankNifty to 35934 but we saw strong rejection in this zones and BankNifty gave almost 800 points fall from day high.

Trades we took yesterday-

> Bought BankNifty 35500 PE 12th May at 380, it went above our 1st Target of 430 and Traders booked profit
> Bought BankNifty 35500 PE 12th May again at 390 which we booked with 40 points loss
> Bought BankNifty 35600 PE 12th May at 350 which we booked at 369 with 19 points profit
> Bought BankNifty 36000 CE 12th May at 370, it went above our 1st Target of 410 and Traders booked profit
> Bought BankNifty 36000 PE 5th May at 190, it went above our Last Target of 300 and Traders booked profit
> Bought BankNifty 36000 CE 12th May at 340 which we booked at 325 with 15 points loss
> Bought BankNifty 35600 PE 12th May at 390, it went above our Last Target of 480 and Traders booked profit
> Bought BankNifty 35500 PE 5th May at 45, it made a high above 340 and Traders booked insane profit

Overall, it was a wonderful expiry day for BankNifty option buyers.

Today if BankNifty breaks 34900 on the downside, we expect a further down-move.

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above 35400
Sell Below 34900

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

Happy Trading!
InvestPro India Team

2022年5月8日

ノート

Gap-down opening, no trade as per set-up.