BankNifty Intraday Trade Setup | 18th October

17 Eki 2021

BankNifty opened with a Gap-up and after consolidation traded in a narrow range throughout the day to eat premiums on both sides. Around 1:40 we saw a sharp upmove, BankNifty broke the day range and we saw a trending move of more than 400 points.

Trades we took Today:

> Bought BankNifty 39000 PE at 270 which made a high around 317 and Traders booked good profit in this.
> Bought BankNifty 39000 PE again at 160 which made a high around 210 and Traders booked good profit in this.

Overall, good day and Traders booked profit in BankNifty Options.

Tomorrow we are expecting a Gap-up opening so be cautious in morning trade.

Expectations for Tomorrow: Volatility and morning.

Intraday Levels:
Buy Above 39400
Sell Below 39000

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

Happy Trading!
InvestPro India Team

17 Eki 2021

Not

As per our Positional View shared on Sep. 19th, BankNifty moving towards our First Target of 40700.