BankNifty Expiry Trade Setup | 13th April

BankNifty opened with a gap-down around 37450 and after making a low at 37280 it was consolidated near the day low and gave a short-covering move in the last hour towards 37900.

Trades we took today -

> Bought BankNifty 37500 PE at 310 which we booked with a small profit of 40 points
> Bought BankNifty 37200 CE at 340, it made a high above our 2nd Target of 390 and Traders booked profit
> Bought BankNifty 37300 CE at 280, it made a high above our 1st Target of 330 and Traders booked profit
> Bought BankNifty 37300 CE again at 280, it made a high above our 1st Target of 330 and Traders booked profit
> Bought BankNifty 37500 PE at 290 which we booked with 40 points loss
> Bought BankNifty 37300 CE again at 340, it made a high above our 2nd Target of 385 and Traders booked profit
> Bought BankNifty 37600 PE again at 270, it made a high above our 3rd Target of 350 and Traders booked profit
> Bought BankNifty 37700 PE again at 310 which we booked with 40 points loss
> Bought BankNifty 37600 CE again at 270, it made a high above our Last Target of 370 and Traders booked profit

Overall a choppy day but BankNifty Option Buyers booked a good profit.

Tomorrow if BankNifty breaks 38000 on the upside, a fast short-covering move is expected.

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

Intraday Levels:
Buy Above 38000
Sell Below 37600

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

Happy Trading!
InvestPro India Team

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Sell Trade Triggered and 1st Target Done.