BankNifty Intraday Trade Setup | 18th April

BankNifty opened with a gap-up around 37890 and after making a high at 37988 it was forming lower lows throughout the day and closed near a day low at 37463.

Trades we took on Expiry day, 13th April-

> Bought BankNifty 37700 CE at 300 which we booked with a small loss of 15 points
> Bought BankNifty 38100 PE at 240, it made a high above our Last Target of 330 and Traders booked profit
> Bought BankNifty 38000 PE at 270, it made a high above our 2nd Target of 315 and Traders booked profit
> Bought BankNifty 37700 CE again at 170, it made a high above our 2nd Target of 215 and Traders booked profit
> Bought BankNifty 38000 PE again at 240, it made a high above our Last Target of 330 and Traders booked profit
> Bought BankNifty 37500 CE at 290 which we booked with a loss of 40 points
> Bought BankNifty 37600 CE at 150 which we booked with a loss of 30 points
> Bought BankNifty 37800 CE 21st April at 410 which we booked with 50 points loss

Overall a choppy day, BankNifty Option Buyers booked a good profit in 1st Half but 2nd Half we booked a loss.

Tomorrow if BankNifty breaks 37200 on the downside, a fast down move is expected.

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above 37620
Sell Below 37200

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

Happy Trading!
InvestPro India Team

Comentarios:

Gap-down opening, no trade as per set-up but we gave few trades in Telegram Channel and Traders booked great profit.