📌 BANKNIFTY TRADING PLAN – 06-Feb-2025
🔹 Previous Close: 50,299.90
🔹 Important Zones Identified:
🟥 Profit Booking Zone: 50,970 - 51,181
🟧 No Trade Zone / Opening Support: 50,133 - 50,375
🟩 Opening Support Zone: 49,871.00
🟢 Last Intraday Support: 49,503.00
📈 Scenario 1: Gap-Up Opening (Above 200+ Points)
If BANKNIFTY opens with a strong gap-up above 50,500, it will approach the profit booking zone (50,970 - 51,181).
📝 Pro Tip: If a gap-up directly reaches the profit booking zone, avoid aggressive long positions. Wait for a breakout or a pullback entry.
📊 Scenario 2: Flat Opening (Between 50,133 - 50,375)
A flat opening within the No Trade Zone (50,133 - 50,375) requires patience and confirmation before entering a trade.
📝 Pro Tip: Flat openings often lead to choppy price action in the first 15-30 minutes. Avoid impulsive trades; let the market establish direction.
📉 Scenario 3: Gap-Down Opening (Below 49,871)
If BANKNIFTY opens below 49,871, it will enter the Opening Support Zone, and we must evaluate price action carefully.
📝 Pro Tip: If the market gaps down but quickly recovers above 49,871, it may indicate a trap for sellers—watch for reversal signs.
⚠️ Risk Management & Options Trading Tips
✔ For Option Buyers: Choose strikes near ATM (At-the-Money) to avoid time decay. Enter only when price action confirms.
✔ For Option Sellers: If IV (Implied Volatility) is high, consider selling OTM (Out-of-the-Money) options at key resistance/support levels.
✔ Always use SL: Protect capital! A good R:R (Risk-to-Reward) ratio ensures long-term success.
✔ Avoid Overtrading: Stick to planned trades—don’t force setups.
📌 Summary & Conclusion
🚀 Bullish above: 50,375 (Target 50,970+)
📉 Bearish below: 50,133 (Target 49,871-49,503)
⚠️ Watch Key Zones: No Trade Zone & Profit Booking Area
📊 Expect Volatility: Let the first 15-30 min settle before aggressive trades.
⚠️ Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only. Always do your own research before taking any trades. 📢📊
#BANKNIFTY #TradingPlan #StockMarket #OptionsTrading 🚀
🔹 Previous Close: 50,299.90
🔹 Important Zones Identified:
🟥 Profit Booking Zone: 50,970 - 51,181
🟧 No Trade Zone / Opening Support: 50,133 - 50,375
🟩 Opening Support Zone: 49,871.00
🟢 Last Intraday Support: 49,503.00
📈 Scenario 1: Gap-Up Opening (Above 200+ Points)
If BANKNIFTY opens with a strong gap-up above 50,500, it will approach the profit booking zone (50,970 - 51,181).
- [] 🔹 Bullish Strategy:
- [] If the price sustains above 50,970, we can look for a breakout trade targeting 51,181+.
[] Ideal entry will be on retracement towards 50,970 with a stop loss below 50,800.
- [] If rejection is seen from 51,000 - 51,181, a short trade can be considered with targets back to 50,500 - 50,375.
[] Stop loss for short trade above 51,250.
- [] If the price sustains above 50,970, we can look for a breakout trade targeting 51,181+.
📝 Pro Tip: If a gap-up directly reaches the profit booking zone, avoid aggressive long positions. Wait for a breakout or a pullback entry.
📊 Scenario 2: Flat Opening (Between 50,133 - 50,375)
A flat opening within the No Trade Zone (50,133 - 50,375) requires patience and confirmation before entering a trade.
- [] 🔹 Bullish Plan:
- [] If the price breaks above 50,375 with strong volume, a long trade can be taken targeting 50,600 - 50,970.
[] Stop loss to be placed below 50,250.
- [] If BANKNIFTY breaks below 50,133, expect a move toward 49,871.
[] Short trade can be initiated with SL above 50,250.
- [] If the price breaks above 50,375 with strong volume, a long trade can be taken targeting 50,600 - 50,970.
📝 Pro Tip: Flat openings often lead to choppy price action in the first 15-30 minutes. Avoid impulsive trades; let the market establish direction.
📉 Scenario 3: Gap-Down Opening (Below 49,871)
If BANKNIFTY opens below 49,871, it will enter the Opening Support Zone, and we must evaluate price action carefully.
- [] 🔹 Buying Opportunity:
- [] A strong bullish reversal from 49,503 - 49,871 can give a long opportunity targeting 50,133 - 50,375.
[] SL for longs should be below 49,400.
- [] If 49,503 breaks, expect further downside toward 49,200-49,000.
[] Short trades can be taken with SL above 49,600.
- [] A strong bullish reversal from 49,503 - 49,871 can give a long opportunity targeting 50,133 - 50,375.
📝 Pro Tip: If the market gaps down but quickly recovers above 49,871, it may indicate a trap for sellers—watch for reversal signs.
⚠️ Risk Management & Options Trading Tips
✔ For Option Buyers: Choose strikes near ATM (At-the-Money) to avoid time decay. Enter only when price action confirms.
✔ For Option Sellers: If IV (Implied Volatility) is high, consider selling OTM (Out-of-the-Money) options at key resistance/support levels.
✔ Always use SL: Protect capital! A good R:R (Risk-to-Reward) ratio ensures long-term success.
✔ Avoid Overtrading: Stick to planned trades—don’t force setups.
📌 Summary & Conclusion
🚀 Bullish above: 50,375 (Target 50,970+)
📉 Bearish below: 50,133 (Target 49,871-49,503)
⚠️ Watch Key Zones: No Trade Zone & Profit Booking Area
📊 Expect Volatility: Let the first 15-30 min settle before aggressive trades.
⚠️ Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only. Always do your own research before taking any trades. 📢📊
#BANKNIFTY #TradingPlan #StockMarket #OptionsTrading 🚀
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.