BankNifty Intraday Trade Setup 9th May

BankNifty opened with a gap-down around 34720 and was trading in a range 34800 - 34350 for entire day.

Trades we took yesterday-

> Bought BankNifty 34500 PE at 400, it went above our 2nd Target of 460 and Traders booked profit
> Bought BankNifty 34600 CE at 480 which we booked at 510 with 30 points profit
> Bought BankNifty 34600 CE at 390, it went above our Last Target of 500 and Traders booked profit
> Bought BankNifty 34500 PE at 440 and added more at 410, it went above our 3rd Target of 550 and Traders booked profit

Overall, BankNifty option buyers booked great profit on a volatile day.

Today if BankNifty breaks 34300 on the downside, we expect a further down-move.

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above 34800
Sell Below 34300

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

Happy Trading!
InvestPro India Team

Komentarz:

Sell Trade Triggered, 1st Target Done.