Banknifty Trade Setup for 10.08.22 with intraday levels

9 Ağu 2022

Bullish trend prevailing in market even in case of a subdued opening. This is being supported by the heavy put writing in both the indices. Dow is flat with Euro markets moderately strong. USD INR is the only laggard in this whole scenario. Given that, we can expect a flat to gap up opening in banknifty.

In case of a gap down opening it would create some panic for put writers and down move can be massive.

Conviction bullish
Bias neutral

Trading Ideas

Long above 38230 Target 38426
Short below 38078 Target 37968-37891

>>Option buying

Long Position: Buy 38400 CE
Short position: Buy 37800 PE

>>Option Selling

Sell 38000 PE with SL of 20 points

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