📘 BANKNIFTY Trading Plan for 13-Mar-2025
Chart Reference: The market is currently placed around 48,055, with defined zones of resistance and support as per the 15-min price action. Based on this, let’s breakdown the plan into different opening scenarios 👇
✅ 1. GAP-UP OPENING (200+ points above previous close)
If BANKNIFTY opens around 48,250–48,400 or higher:
👉 This will place prices near the first key supply zone:
📍 Resistance Zone: 48,319–48,369
🟥 If price opens here, wait for the first 15–30 mins to see if it sustains above the zone.
✅ A strong candle above 48,370 with volume can trigger a long entry for targets:
➤ 48,534 (Last intraday resistance)
➤ 48,890 (Upper Target Zone)
📉 On the flip side, if price fails to sustain this zone and shows rejection with a bearish engulfing or M pattern:
→ Look for shorting opportunities with targets back to 48,085 and even 47,748.
🧠 Important Tip: Avoid rushing into trades at open. Let the first few candles confirm strength or weakness. Use tight SL for long near resistance.
⚖️ 2. FLAT OPENING (within ±100 points of previous close)
If BANKNIFTY opens between 47,950–48,150 range:
📍 Price will be near the middle zone – 48,085, which is now acting as a pivot for the day.
🔄 Plan here should be range-based trading initially: ✔️ If price sustains above 48,085, intraday long trades can be attempted targeting
➤ 48,319–48,369 (Initial Resistance)
➤ Beyond that, trail for 48,534
🚫 If it rejects from 48,085 and breaks below 48,027, avoid longs and prepare for downside until:
➤ 47,748–47,787 (Green Support Zone)
🧠 Important Tip: Use option spreads in this zone to benefit from time decay and lower directional bias until breakout confirms.
🔻 3. GAP-DOWN OPENING (200+ points below previous close)
If BANKNIFTY opens near 47,700 or lower:
📉 Prices would be near Opening Support: 47,748–47,787
🔍 Watch for bullish price action like bullish engulfing, pin bar or consolidation above this zone: → Go long if it holds and gives reversal signs
🎯 Target: 48,000–48,085 zone
🚫 However, if support breaks with a strong red candle, then:
⚠️ Short trade can be initiated with target:
➤ 47,589 (Final Strong Support Zone)
📉 Break below 47,589 could lead to panic selling towards 47,400–47,300.
🧠 Important Tip: Gap-down opens can cause high IV. Use proper hedging (e.g. bear put spreads or long straddle if expecting a reversal) to reduce premium decay.
🛡️ Risk Management Tips for Options Traders
📌 Summary & Conclusion
✅ Key Resistance Zones: 48,319–48,369 🔺 48,534 🔺 48,890
✅ Key Support Zones: 47,748–47,787 🔻 47,589 (critical level)
🎯 Let price action around these zones guide your trade. React, don’t predict!
⚠️ Disclaimer
I am not a SEBI registered analyst. This analysis is shared for educational purposes only. Please do your own research or consult with a financial advisor before making any trading decisions.
Chart Reference: The market is currently placed around 48,055, with defined zones of resistance and support as per the 15-min price action. Based on this, let’s breakdown the plan into different opening scenarios 👇
✅ 1. GAP-UP OPENING (200+ points above previous close)
If BANKNIFTY opens around 48,250–48,400 or higher:
👉 This will place prices near the first key supply zone:
📍 Resistance Zone: 48,319–48,369
🟥 If price opens here, wait for the first 15–30 mins to see if it sustains above the zone.
✅ A strong candle above 48,370 with volume can trigger a long entry for targets:
➤ 48,534 (Last intraday resistance)
➤ 48,890 (Upper Target Zone)
📉 On the flip side, if price fails to sustain this zone and shows rejection with a bearish engulfing or M pattern:
→ Look for shorting opportunities with targets back to 48,085 and even 47,748.
🧠 Important Tip: Avoid rushing into trades at open. Let the first few candles confirm strength or weakness. Use tight SL for long near resistance.
⚖️ 2. FLAT OPENING (within ±100 points of previous close)
If BANKNIFTY opens between 47,950–48,150 range:
📍 Price will be near the middle zone – 48,085, which is now acting as a pivot for the day.
🔄 Plan here should be range-based trading initially: ✔️ If price sustains above 48,085, intraday long trades can be attempted targeting
➤ 48,319–48,369 (Initial Resistance)
➤ Beyond that, trail for 48,534
🚫 If it rejects from 48,085 and breaks below 48,027, avoid longs and prepare for downside until:
➤ 47,748–47,787 (Green Support Zone)
🧠 Important Tip: Use option spreads in this zone to benefit from time decay and lower directional bias until breakout confirms.
🔻 3. GAP-DOWN OPENING (200+ points below previous close)
If BANKNIFTY opens near 47,700 or lower:
📉 Prices would be near Opening Support: 47,748–47,787
🔍 Watch for bullish price action like bullish engulfing, pin bar or consolidation above this zone: → Go long if it holds and gives reversal signs
🎯 Target: 48,000–48,085 zone
🚫 However, if support breaks with a strong red candle, then:
⚠️ Short trade can be initiated with target:
➤ 47,589 (Final Strong Support Zone)
📉 Break below 47,589 could lead to panic selling towards 47,400–47,300.
🧠 Important Tip: Gap-down opens can cause high IV. Use proper hedging (e.g. bear put spreads or long straddle if expecting a reversal) to reduce premium decay.
🛡️ Risk Management Tips for Options Traders
- [] Never trade without a stop-loss. Use a closing-based SL on 15-min candles for directional trades. [] Avoid buying deep OTM options after 12 PM unless a breakout or breakdown is confirmed. [] Use option spreads (Bull Call / Bear Put / Iron Condor) to reduce theta decay impact. [] Avoid overtrading in choppy zones; preserve capital for trending opportunities.
- Reduce position size when volatility spikes or premiums are inflated.
📌 Summary & Conclusion
✅ Key Resistance Zones: 48,319–48,369 🔺 48,534 🔺 48,890
✅ Key Support Zones: 47,748–47,787 🔻 47,589 (critical level)
🎯 Let price action around these zones guide your trade. React, don’t predict!
⚠️ Disclaimer
I am not a SEBI registered analyst. This analysis is shared for educational purposes only. Please do your own research or consult with a financial advisor before making any trading decisions.
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.