🔹 NIFTY TRADING PLAN – 05-FEB-2025 🔹
📍 Previous Close: 23,707.70
📍 Key Levels to Watch:
🔸 Resistance Zone: 23,743 - 23,845
🔹 Opening Support Zone: 23,591 - 23,644
🟢 Last Intraday Support: 23,491
🟩 Buyers’ Strong Support: 23,345 - 23,388
🎯 Profit Booking Zone: 24,067 - 24,155
🔵 POSSIBLE OPENING SCENARIOS & TRADING STRATEGY 🔵
⚠️ RISK MANAGEMENT & OPTIONS TRADING TIPS ⚠️
🔹 Use strict stop-losses based on an hourly close.
🔹 Avoid chasing trades at extreme levels; wait for pullbacks.
🔹 For options trading, consider ATM/ITM contracts for better liquidity.
🔹 Time decay will impact weekly options—exit early if momentum slows.
🔹 Hedge positions if volatility spikes unexpectedly.
📌 SUMMARY & CONCLUSION 📌
✅ Bullish Bias above 23,743 targeting 23,845 - 24,067.
❌ Bearish Break below 23,591 may push towards 23,491 - 23,345.
📊 Key Zone: 23,707 - 23,743—market reaction here will decide the trend.
📌 Wait for confirmation at crucial levels before entering trades!
⚠️ DISCLAIMER ⚠️
🔹 I am not a SEBI-registered analyst. This trading plan is for educational purposes only.
🔹 Please do your own research or consult with a financial advisor before making trading decisions.
📍 Previous Close: 23,707.70
📍 Key Levels to Watch:
🔸 Resistance Zone: 23,743 - 23,845
🔹 Opening Support Zone: 23,591 - 23,644
🟢 Last Intraday Support: 23,491
🟩 Buyers’ Strong Support: 23,345 - 23,388
🎯 Profit Booking Zone: 24,067 - 24,155
🔵 POSSIBLE OPENING SCENARIOS & TRADING STRATEGY 🔵
- 📈 Gap Up Opening (100+ Points Above 23,807) – Bullish to Cautious Approach
📌 If Nifty opens with a gap-up above 23,807+, traders should wait for initial price action.
📌 A sustained move above 23,845 can trigger bullish momentum towards 24,067 - 24,155 (Profit Booking Zone).
📌 If Nifty struggles near 23,845, expect sideways movement or a potential reversal to test 23,743 - 23,707.
📌 Trade Setup:
✅ Buy on retracement if 23,743 acts as support after a pullback.
🚨 Avoid aggressive buying near resistance without confirmation.
↔️↔️↔️ - 📊 Flat Opening (Between 23,683 - 23,743) – Key Zone for Decision Making
📌 A flat opening within 23,683 - 23,743 keeps the market in a neutral-to-bullish zone.
📌 If Nifty holds above 23,707, we can see a push towards 23,845.
📌 Failure to hold 23,707 might bring weakness towards 23,644 - 23,591 (Opening Support).
📌 Trade Setup:
✅ If Nifty stays above 23,707 for 15-30 minutes, a breakout trade towards 23,845 is possible.
🚨 If it breaks below 23,644, avoid longs and wait for a deeper support test.
↔️↔️↔️ - 📉 Gap Down Opening (100+ Points Below 23,607) – Caution Required
📌 A gap-down below 23,607 will bring pressure on support levels.
📌 23,591 - 23,491 is a key demand zone; a strong bounce from here can offer buying opportunities.
📌 If selling continues and Nifty breaks below 23,491, the next major support is 23,345 - 23,388.
📌 Trade Setup:
✅ Look for reversal signs near 23,491 - 23,345 before entering long trades.
🚨 If Nifty breaks and sustains below 23,345, expect further downside.
⚠️ RISK MANAGEMENT & OPTIONS TRADING TIPS ⚠️
🔹 Use strict stop-losses based on an hourly close.
🔹 Avoid chasing trades at extreme levels; wait for pullbacks.
🔹 For options trading, consider ATM/ITM contracts for better liquidity.
🔹 Time decay will impact weekly options—exit early if momentum slows.
🔹 Hedge positions if volatility spikes unexpectedly.
📌 SUMMARY & CONCLUSION 📌
✅ Bullish Bias above 23,743 targeting 23,845 - 24,067.
❌ Bearish Break below 23,591 may push towards 23,491 - 23,345.
📊 Key Zone: 23,707 - 23,743—market reaction here will decide the trend.
📌 Wait for confirmation at crucial levels before entering trades!
⚠️ DISCLAIMER ⚠️
🔹 I am not a SEBI-registered analyst. This trading plan is for educational purposes only.
🔹 Please do your own research or consult with a financial advisor before making 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.