BankNifty Intraday Trade Setup | 31st August

BankNifty opened above our yellow resistance line and as expected we saw a Trending up-move and hit all our levels. We suggested buying 35900 PE around 270 which went to 340 and Traders booked good profit. We gave 35800, 36100 PE, and 35900 CE and all booked in profit. Overall, it was a great day for Option Buyers.

BankNifty closed near a resistance line again and we may see another good up-move tommorrow once BankNifty would sustain above 36410. If you get a dip in the morning, look for the buying opportunity.

Expectations for Tomorrow: Volatile day.

Intraday Levels:
Buy Above 36410
Sell Below 36250 (Novice Traders should avoid taking Sell Trade, Would update if we get any set-up)

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

Happy Trading!
InvestPro India Team