BankNifty Expiry Trade Setup | 16th December

BankNifty opened a flat and tried to Break the resistance 37050 which was also our Buying zone but it couldn't sustain and we saw rejection in the morning. BankNifty also tested the lower range but that happened after 3:00 so it was a range-bound day.

Trades we took today -

> Bought BankNifty 37000 CE at 230 which we booked with 40 points loss
> Bought BankNifty 36800 CE at 300 which we booked with 50 points loss
> Bought BankNifty 37100 PE at 320 which we booked at the cost
> Bought BankNifty 36800 CE at 280 which made a high around 350 and Traders booked profit in this Trade

Overall, not a Good day BankNifty Option Buyers.

Tomorrow, If BankNifty opens with Gap-down be cautious as we can see an expiry short-covering move.

Expectations for Tomorrow: Range-bound day, Volatilatily after 1:00 PM.

Intraday Levels:
Buy Above 37050
Sell Below 36750

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

Happy Trading!
InvestPro India Team

Transakcja zamknięta: osiągnięto wyznaczony cel:

Sell Trade Triggered, All Targets Done.