BankNifty Intraday Trade Setup | 10th May

2022年5月9日

BankNifty opened with a gap-down around 34225 and after making a low around 33925 we saw a bounce which took BankNifty to above 34550 but that acted as a rejection zone and we again saw a fall towards 34100 zones.

Trades we took yesterday-

> Bought BankNifty 34200 CE at 390 which we booked at 370 with 20 points loss
> Bought BankNifty 34000 CE at 430 which we booked at 410 with 20 points loss
> Bought BankNifty 34100 PE at 440, it went above our 1st Target of 490 and Traders booked profit
> Bought BankNifty 34000 CE at 400, it went above our 2nd Target of 460 and Traders booked profit
> Bought BankNifty 34100 PE at 410 which we booked at 360 with 50 points loss
> Bought BankNifty 34000 CE at 390, it went above our 1st Target of 430 and Traders booked profit
> Bought BankNifty 34300 PE at 390 which we booked at 345 with 45 points loss
> Bought BankNifty 34500 CE at 380which we booked at 330 with 50 points loss

Overall, it was not a good day for BankNifty option buyers.

Tomorrow if BankNifty breaks 34600 on the upside, we can expect an up-move.

Expectations for Tomorrow: Range-bound day.

Intraday Levels:
Buy Above 34600
Sell Below 34000

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

Happy Trading!
InvestPro India Team

2022年5月10日

注释

1st Target Done.

2022年5月10日

交易结束：到达目标

Buy Trade triggered and 1st Target done.