BankNifty Expiry Trade Setup | 17th March

BankNifty opened with a big gap-up at 35460 and made high around 35800 in first 30 mins which was the range for the whole day.

Trades we took today -

> Bought BankNifty 35200 PE at 260 which we booked with 40 points loss
> Bought BankNifty 35600 PE at 320, it went above to our Last Target 430 and Traders booked profit
> Bought BankNifty 35600 PE at 330, it went above to our 1st Target 380 and Traders booked profit

We also updated a sell Trade on our TradingView Idea, took the trade at 35700 and it easily gave us the target for 120 points.

Overall, it was a range-bound day but BankNifty Option Buyers booked some profit.

Tomorrow if BankNifty sustain above 35800, we may see an upmove towards 36000 which is psychological resistance.

Expectations for Tomorrow: Range-bound Day, Volatality after 1:30 PM.

Intraday Levels:
Buy Above 35800
Sell Below 35480

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

Happy Trading!
InvestPro India Team