Nifty Intraday Trade Setup | 20th DecemberNifty opened with a big gap-down near crucial support of 23850 today due to US markets and Nifty traded in a range created in first 15 mins.
For tomorrow, if Nifty sustains above 24000 we expect to see an upmove towards 24080 and above marked levels. On the other side, if Nifty breaks 23920 on downside we may see 23920 and below marked levels on the chart.
Expectations: Volatile day
Intraday Levels:
Buy Above - 24000
Sell Below - 23920
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
Niftytradesetup
#NIFTY Intraday Support and Resistance Levels - 20/12/2024Flat or slightly gap down opening expected in nifty. After opening if nifty starts trading below 23950 level then possible strong downside rally upto 23750 level. Any bullish rally only expected if nifty starts trading and sustain above 24050 level. 23950-24050 levels are the consolidation zone for nifty.
NIFTY - Trading Levels and Plan for 20-Dec-2024Intro: Review of the Previous Day’s Plan
After a gap down opening, prices saw first phase of recovery but could not find follow on support and traded in a narrow range. Let’s analyze potential scenarios for today.
Plan for Different Opening Scenarios
Gap-Up Opening (100+ points above 24,014):
A gap-up above 24,014 places Nifty near the resistance zone or even at 24,103. The focus should be on observing price action for either a breakout or a rejection.
Plan of Action:
If Nifty approaches 24,227, monitor for bearish rejection signals (e.g., shooting stars or bearish engulfing patterns) to initiate short positions targeting 24,103 and 24,014. Stop loss can be placed above 24,250.
For a breakout above 24,227, wait for an hourly close and consider long trades targeting 24,300 or higher. Stop loss below 24,200.
Key Tips: For options, consider OTM calls if a breakout occurs. Hedge positions using vertical spreads to cap potential losses.
Flat Opening (Within 23,900-24,000 range):
A flat opening keeps Nifty in the sideways zone (yellow trend). Early market movement will determine directionality.
Plan of Action:
If Nifty sustains above 24,014, initiate longs targeting 24,103 and 24,227. Use a stop loss below 23,950.
If the index slips below 23,900, initiate shorts targeting 23,877 and 23,748 with a stop loss above 24,000.
Key Tips: A flat opening is ideal for option straddle/strangle setups. Close positions if volatility contracts or movement remains indecisive.
Gap-Down Opening (100+ points below 23,877):
A gap-down below 23,877 places Nifty near support or bearish breakdown zones. Focus on price action around 23,748 or 23,604.
Plan of Action:
If Nifty holds above 23,748, initiate long positions with targets at 23,877 and 23,961, keeping a stop loss below 23,700.
A breakdown below 23,748 opens further downside to 23,604. Initiate shorts below this level with targets at 23,500 or lower. Stop loss above 23,800.
Key Tips: In gap-down scenarios, avoid panic trades. For options, consider OTM puts or debit spreads for bearish strategies.
Risk Management Tips for Options Trading:
Never risk more than 2% of your capital on a single trade.
Use a mix of ATM and OTM options for balanced risk/reward setups.
Exit trades promptly if Nifty deviates from the expected plan.
Monitor implied volatility; avoid overpaying for options in low-volatility environments.
Summary and Conclusion:
Today’s plan revolves around key levels: 24,014, 23,877, and 23,748. The yellow trend indicates likely consolidation, the green trend highlights bullish potential, and the red trend shows bearish zones. Patience and disciplined execution are crucial for trading success. Let price action confirm your trades before entering positions.
Disclaimer:
I am not a SEBI-registered analyst. This analysis is for educational purposes only. Please consult your financial advisor before making any trading decisions.
Nifty Bears Take Charge – 630 Points Secured with Risological InNifty 15-Minute timeframe short trade achieved a massive 630-point profit using the Risological Trading Indicator.
Trade Details:
Short Entry: 17th December, 9:15 AM
Exit: 19th December, 3:20 PM
Total Points Captured: 630 points
Technical Breakdown:
This trade showcased the precision and reliability of the Risological Trading Indicator. The indicator identified a clear bearish trend early on, enabling a high-conviction short entry. The trend persisted across multiple sessions, allowing the trade to capture a significant downward movement before closing out with a sizable profit.
NIFTY : Prediction levels and plan for 19-Dec-2024
Intro: Previous Day's Plan vs Actual
In yesterday's chart, we observed Nifty approaching a deep retracement zone (113% level at 24,098) and tested the must-try zone for Wave C completion as highlighted. Price remained within the "No Trade Zone" for a considerable period, indicating indecision and sideways movement. The sideways yellow trend was respected, with no significant breakout.
Now, for 19-Dec-2024, we will plan the opening scenarios considering a gap opening of 100+ points in either direction, or a flat opening, using key levels for action.
Trading Scenarios for 19-Dec-2024
Gap Up Opening (100+ points):
If Nifty opens above the Opening Resistance for Retracement at 24,359, this signals initial strength.
- Monitor the first 30 minutes for price action confirmation. If Nifty sustains above 24,359, we may see a move towards the Last Intraday Resistance at 24,488 (red level).
- Aggressive traders can look for long opportunities with a stop loss placed at 24,227 (blue level) on an hourly candle-close basis.
- However, failure to sustain above 24,359 can lead to a retracement back towards the No Trade Zone (24,169).
- Action Plan:
- If the price closes an hourly candle above **24,359**, initiate longs with **targets** at **24,488**.
- If it fails to hold above, avoid fresh trades and wait for price to return to the retracement zone.
Flat Opening:
If Nifty opens near the No Trade Zone (24,169 - 24,227), caution is required. A sideways price action is likely within this range.
- Price needs to break out from this "No Trade Zone" to give clear direction.
- Upside breakout above 24,227 could lead to a retracement test towards 24,359.
- Downside breakdown below 24,169 can trigger a test of the Wave C correction zone at 24,098 - 24,029.
- Action Plan:
- Avoid trading in the "No Trade Zone" to minimize risk.
- For longs, wait for a confirmed breakout above **24,227**.
- For shorts, wait for a breakdown below **24,169**, targeting **24,098** first and then **24,029**.
Gap Down Opening (100+ points):
If Nifty opens near or below the Must Try Zone at Wave C completion (24,098 - 24,029), it signals a bearish start.
- Watch for signs of support formation in this range. A strong bounce can lead to a reversal back toward 24,169.
- However, if Nifty fails to hold this zone and breaks 24,029, further downside towards 23,600 could unfold (red trend).
- Action Plan:
- Look for buying opportunities if price holds above **24,029** with confirmation on the hourly chart.
- If **24,029** breaks decisively, initiate short positions targeting **23,600**, with a stop loss above **24,098**.
Risk Management Tips for Options Traders :
Always use stop losses based on an hourly candle close to manage risks.
Avoid trading in uncertain zones (e.g., "No Trade Zone") where the risk-reward ratio is unfavorable.
For options, consider deploying spreads (e.g., Bull Call Spread or Bear Put Spread) to limit risk during gap openings.
Avoid chasing trades in case of a sharp gap-up or gap-down; let the price stabilize for 30 minutes.
Summary and Conclusion:
Nifty remains at a critical juncture near the Wave C correction completion zone.
Key Levels to Watch:
Upside: 24,227, 24,359, 24,488
Downside: 24,169, 24,098, 24,029, and 23,600
Focus on breakouts or breakdowns for actionable trades, avoiding sideways moves.
The yellow trend reflects sideways movement, green indicates a bullish reversal, and red shows bearish continuation.
Disclaimer: I am not a SEBI-registered analyst. This trading plan is for educational purposes only. Traders should conduct their analysis or consult a financial advisor before making decisions.
Nifty Intraday Trade Setup | 19th DecemberNifty opened with a minor gap-down and it morning we saw some volatile moves, once Nifty sustained below 24300 which was a crucial support level, we saw good fall and Nifty made a low near 24150 and closed below 24200.
There is US Fed meeting tonight and tomorrow we may see the impact on Indian markets.
For tomorrow, if Nifty sustains below 24150 we may see further downside towards 24100 and below marked levels. On the other side, if Nifty breaks 24250 on upside we may see 24300 and above marked levels on the chart.
Expectations: Volatile day
Intraday Levels:
Buy Above - 24250
Sell Below - 24150
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
Nifty 50 hero zero trade for 19 December 2024 expiry Trading Guidance for NIFTY50 index options
In the world of trading, greed and fear are your worst enemies. Trading without full knowledge and proper back testing—whether of your own trades or the advisors' suggestions—is a recipe for disaster.
Important Note: Read and understand everything in this post and any accompanying images before taking any trade action.
Nifty 25000 Call Option
Current Scenario: There's a gap in the Nifty 50 index which could drag the index towards 24720 around expiry (possibly on Friday when Sensex has its weekly expiry). This is a high-risk, high-reward trade (hero or zero).
Buying Price: ₹5.10
Maximum Potential: ₹235
Target Price: Set the final target at ₹184, as the price is expected to drop sharply after reaching between ₹140 and ₹235.
Profit Strategy: If the price hits ₹140, it's wise to take some profits. Don't be greedy.
Loss Strategy: Cut half the trade amount if it drops to ₹3 in loss or reaches ₹10 in profit, whichever comes first.
Best Timing: Aim to enter or exit trades during high market activity periods to maximize gains and minimize losses.
Capital Management
Divide Your Capital: If you're following my trading suggestions, divide your total capital by 40. No single trade should exceed 1/40 of your capital.
Risk Management: Only trade with money you can afford to lose. Avoid going all-in to ensure you have funds for future trades in case one fails.
Market Conditions
Stay updated with the latest market trends and news that could impact the Nifty 50 index.
Learning Resources
For those looking to deepen their understanding, consider reading books on options trading, attending webinars, or following reputable market analysts.
Risk Disclaimer
Remember, trading options involves substantial risk and may not be suitable for every investor. Always trade responsibly.
For more information about money management for options trading, feel free to contact me. I'll provide all the details you need. Remember, prudent management of your capital is crucial to long-term trading success.
Stay informed and trade wisely!
NIFTY : Trading levels and Plan for 18-Dec-2024Nifty Trading Plan for 18-Dec-2024
Previous Day Plan vs Actual:
In yesterday's uploaded chart, we identified key levels of retracement and reversal zones. The Wave C completion zone (24,097 - 24,009) was highlighted as a potential support for buyers. As observed in today’s session, the price reacted strongly to this zone with a pullback, respecting the reversal area as anticipated. Additionally, the Golden Retracement Zone acted as intraday resistance, with prices consolidating sideways as shown in the Yellow Trend . Moving into 18-Dec-2024, we will adjust our plan based on the identified opening levels and trends.
Trading Scenarios for 18-Dec-2024:
Scenario 1: Gap Up Opening (100+ Points Above 24,319)
If Nifty opens with a strong gap-up above 24,485 or near the Golden Retracement Zone , we should be cautious of immediate selling pressure. The first resistance to monitor is at 24,547 . Price action here will determine further moves:
If prices sustain above 24,547 , expect an extension toward 24,686 (Last resistance for Intraday).
Failing to sustain above 24,547 could lead to retracement back to 24,319 (Opening Support).
Action Plan: Wait for a retest of support levels after the gap-up before initiating fresh longs. Avoid chasing prices.
Tip: For option traders, focus on at-the-money call options with tight stop losses if support holds.
⠀⠀
⠀⠀
Scenario 2: Flat Opening (Near 24,319 - Opening Support/Resistance Zone)
If Nifty opens flat near the Opening Support/Resistance at 24,319 , we must observe whether buyers or sellers take control:
If prices break above 24,319 and sustain, look for a move toward the Golden Retracement Zone at 24,454 - 24,485 .
Failure to hold 24,319 could trigger selling pressure toward 24,150 and deeper levels like the Wave C completion zone.
Action Plan: Observe 15-minute candle confirmation before taking any trade. Maintain a favorable Risk/Reward Ratio of at least 1:2.
Tip: For options, consider selling put options if support holds or buying call spreads to minimize premium risks.
⠀⠀
⠀⠀
Scenario 3: Gap Down Opening (100+ Points Below 24,319)
If Nifty opens with a gap-down near the Wave C completion zone (24,097 - 24,009) , this area will act as strong support for buyers:
Look for reversal signs (bullish candles) in this support zone for potential long entries with stop losses below 24,009 .
If prices fail to reverse and sustain below 24,009 , expect further downside toward 23,950 .
Action Plan: Focus on reversal confirmation at Wave C completion for long positions. Avoid shorting unless a clear breakdown occurs.
Tip: For options, buying in-the-money call options at reversal zones reduces the impact of time decay.
⠀⠀
⠀⠀
Risk Management Tips for Options Trading:
Always keep a defined stop-loss for every trade to protect your capital.
Avoid holding options positions overnight, especially during high volatility.
Use spreads (e.g., Call/Put Spreads) to minimize the impact of premium fluctuations.
Do not risk more than 1-2% of your capital per trade.
Monitor the VIX index to gauge overall market sentiment and volatility levels.
Summary and Conclusion:
Bullish Scenario: Sustaining above 24,454 - 24,485 could trigger a move toward 24,686 .
Sideways Scenario: Consolidation in the Golden Retracement Zone may dominate intraday moves.
Bearish Scenario: A break below 24,009 could invite further selling pressure.
Yellow Trend: Sideways Consolidation
Green Trend: Bullish Move
Red Trend: Bearish Breakdown
Disclaimer: I am not a SEBI-registered analyst. The analysis provided is for educational purposes only. Please conduct your research or consult with a financial advisor before taking any trade.
#NIFTY Intraday Support and Resistance Levels - 17/12/2024Flat opening expected in nifty. After opening if it's sustain above the 24550 level then expected continue upside rally. Major downside expected below the 24450 level. Upside 24750 will act as a strong resistance for nifty. Any major upside rally expected above this level.
NIFTY : Trading Plan and Levels for 17-Dec-2024🔹 Previous Day's Plan vs Actual (16-Dec-2024):
In yesterday's plan, we identified the No Trade Zone near 24,696-24,750 and the Opening Resistance at 24,830, expecting sideways movement if prices hovered in this range. As seen in the chart, the price respected the No Trade Zone, consolidating before a pullback. The Opening Intraday Support at 24,526 provided a critical holding point, and prices staged a rebound.
Today's plan will analyze multiple opening scenarios, key levels, and likely trends, helping traders prepare for action.
🔹 Nifty 50 Trading Plan for 17-Dec-2024:
Scenario 1: Gap Up Opening (100+ points)
If Nifty opens above 24,750 (No Trade Zone), the next critical resistance is at 24,830 (Opening Resistance). Sustaining above this level on an hourly candle close can trigger sharp short-covering, leading the index toward 25,041 (Profit Booking Resistance for 25,630).
🔹 Plan of Action:
Wait for the first 15-30 minutes to observe if the gap up sustains.
Enter long positions above 24,830 only if prices hold for an hourly close.
Immediate stop loss can be placed just below 24,750 for risk control.
🔹 Bullish Continuation Target:
Immediate Target: 25,041.
🔹 Risk Management:
For options traders, consider ATM or slightly ITM CE options to manage premium decay.
Avoid chasing the opening; let a pullback confirm strength.
Scenario 2: Flat Opening (near 24,648-24,696)
If Nifty opens flat, the No Trade Zone at 24,696-24,750 will play a critical role. This zone might act as a sideways region (Yellow Trend) if prices struggle to break out.
🔹 Plan of Action:
Stay cautious inside the No Trade Zone as there may be choppy moves.
A breakout above 24,750 or a breakdown below 24,526 will signal the direction.
Go long above 24,750 with a stop loss below 24,696.
Go short below 24,526, targeting 24,484 and lower levels.
🔹 Bullish or Bearish Confirmation:
Bullish breakout: Above 24,750.
Bearish breakdown: Below 24,526.
🔹 Risk Management:
Use defined stop losses, and avoid overleveraging positions.
For options, consider buying spreads to reduce premium risk.
Scenario 3: Gap Down Opening (100+ points)
If Nifty opens near or below 24,526 (Opening Intraday Support), the 24,484 and 24,309 levels will act as crucial supports.
🔹 Plan of Action:
Observe price action at 24,526. If support holds, expect a bounce back toward 24,696.
If 24,526 breaks, initiate short positions targeting 24,484 and 24,309.
If prices drop below 24,309 (Last Intraday Support), it could lead to a sharp decline (Red Trend).
🔹 Key Levels for Shorts:
Immediate Targets: 24,484 → 24,309.
🔹 Risk Management:
Manage trades with strict stop loss above 24,526 for shorts.
For options traders, consider buying OTM PE options for risk-limited trades.
🔹 Risk Management Tips for Options Traders:
Avoid holding positions overnight in volatile market conditions.
Use defined stop losses and trail profits to protect gains.
Prefer spreads (CE/PE spreads) instead of naked buying to manage risk and decay.
Wait for hourly candle closes at critical levels for better confirmation.
🔹 Summary & Conclusion:
Above 24,750, expect bullish continuation towards 25,041.
Flat opening inside the No Trade Zone requires caution; wait for breakout/breakdown.
Below 24,526, bears can take control, with levels 24,484 and 24,309 acting as key supports.
Watch price action near support/resistance and avoid random entries.
🔹 Disclaimer:
I am not a SEBI-registered analyst. This analysis is for educational purposes only. Traders are advised to conduct their research or consult with a financial advisor before making any trading decisions.
Nifty Intraday Trade Setup | 17th DecemberNifty opened with a minor gap-down and after consolidating Nifty broke our Sell level 24670 on downside and made a low around 24600. Traders followed the idea must have booked profit in Sell side.
For tomorrow, if Nifty sustains below 24600 we may see further downside towards 24550 and below marked levels. On the other side, if Nifty breaks 24710 on upside we may see 24760 and above marked levels on the chart.
Expectations: Range bound day
Intraday Levels:
Buy Above - 24710
Sell Below - 24600
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
BANKNIFTY and Sentiment Cycle Indicator Performance (PAID)This is the Bank Nifty Chart, and you can clearly see that today’s market moved up, but no sentiment signal was triggered. The reason for this is simple – if you look at the volume at the bottom, you’ll notice it was low. This low volume indicates a trap move, and our indicator successfully identifies such traps.
Here’s how it works:
• Green background indicates a bullish sentiment.
• Red background indicates a bearish sentiment.
• No background color (neither green nor red) means a sideways market.
In Nifty and Bank Nifty, traders often get stuck in sideways zones, which lead to losses due to a lack of momentum. This is where our indicator comes into play – helping you avoid trap trades and sideways market areas.
Also, this is an all rounder indicator and can be used in FOREX, commodities, oiltrading and crypto, you name it and use it.
Additionally, if you use this indicator on a 5-minute chart, it becomes more responsive. This is crucial in the Indian market, where we face premium decay in options trading. Unfortunately, TradingView doesn’t allow me to showcase the 5-minute chart here, so I’m sharing the 15-minute chart instead. Even on this timeframe, you can clearly see how effectively the indicator highlights the sideways market or “No Trading Zones”, helping traders avoid unnecessary trades and book smarter trades.
#NIFTY Intraday Support and Resistance Levels - 16/12/2024Flat opening expected in nifty. After opening if it gives breakout of 24800 level then possible strong bullish rally upto 25000+ level in today's session. Below 24750 expected reversal upto 24550 level. For today's session 24550 level will act as a strong and important support for nifty. Any major downside rally only expected below this support zone.
Nifty Breakout Confirmation- Ready to hit 25,647 !!Nifty 50: Outlook for next week and feb-25
After analyzing the index’s movement from August to December 2024, Nifty 50 has exhibited two key patterns:
1. Head & Shoulders:
• Rally from 24,887 to ATH 26,277 (Sep 9–26).
• Breakdown after completing the right shoulder on Oct 21, leading to a 1,500-point fall to 23,291 on Nov 22.
2. Inverse Head & Shoulders:
• Formation began on Oct 23, with the head completed on Nov 21 and a neckline formed by Nov 26.
• On Dec 4, the right shoulder completed, followed by a breakout above 24,463. The index consolidated for a week between Dec 4–13, strengthening the breakout signal.
Outlook
With strong confirmation of a bullish reversal above last week close, supported by FIIs inflows and favorable macroeconomic data (CPI/IIP), It is highly likely that Nifty 50 is likely to hit 25,647 by December 23, 2024. If the breakout doesn’t happen then we can see a consolidation and retest on last week levels failing which will lead to a breakdown which can push Nifty to 23,000 levels by Februrary 2025
Disclaimer: I am not SEBI-registered. This analysis is for educational and study purposes only. Any trade taken based on this view is solely at your own risk and is not a recommendation.
NIFTY : Trading Plan and levels for 16-Dec-2024Trading Plan for Nifty 16-Dec-2024
Intro: Yesterday's Plan vs Actual
The chart uploaded for 15-Dec-2024 accurately depicted the market's movement. As anticipated, Nifty faced sharp recovery from mentioned zone after a sharp decline in prices. Monday’s plan builds on these insights, focusing on opening scenarios and trading strategies.
Plan for Different Opening Scenarios
Scenario 1: Gap-Up Opening (100+ Points Above 24,781)
If Nifty opens significantly higher, near or above 25,053 :
Expect resistance around 25,053 (marked red on the chart). Observe for rejection signals such as bearish candles or reduced buying momentum.
Plan of Action:
For aggressive traders: Initiate a short position with a target of 24,767 , placing a stop-loss above 25,100 on an hourly candle close basis.
For conservative traders: Wait for a pullback toward the consolidation zone ( 24,653 - 24,767 ) for potential long positions, targeting a retest of 25,053 .
Watch out for a decisive breakout above 25,053 , which can trigger further bullish momentum toward 25,335 .
Scenario 2: Flat Opening (Near 24,781)
If Nifty opens near the previous close:
The consolidation zone ( 24,653 - 24,767 ) will act as a critical area.
Plan of Action:
Initiate long positions if Nifty sustains above 24,767 with targets of 25,053 . Place stop-loss below 24,653 .
If Nifty slips below 24,653 , short positions can be considered with a target of 24,542 . Ensure a tight stop-loss above 24,653 .
Pay attention to the price action in the yellow trend zone, as sideways movement could lead to traps.
Scenario 3: Gap-Down Opening (100+ Points Below 24,781)
If Nifty opens near 24,542 or lower:
24,542 is the opening support level (marked green on the chart). Observe for sharp recovery signs like bullish engulfing candles.
Plan of Action:
For bulls: Look for a recovery from 24,542 to target 24,653 with a stop-loss below 24,500 .
If 24,542 breaks decisively, expect bearish momentum toward 24,217 . In this case, initiate shorts with a target of 24,217 and stop-loss above 24,542 .
Risk Management Tips for Options Trading
Avoid taking positions during the first 15-30 minutes of market opening to avoid false moves.
For intraday options trading, use at-the-money or slightly in-the-money options to minimize time decay impact.
Set a fixed risk percentage (e.g., 2-3% of your capital) per trade. Stick to it strictly.
Avoid holding positions beyond your planned targets. Use trailing stop-losses to lock in profits during trending moves.
Summary and Conclusion
The key zones to watch today are:
Support: 24,542 , 24,653 .
Resistance: 25,053 , 25,335 .
Green trend indicates bullish potential, yellow for sideways movement, and red for bearish scenarios.
Adapt to price action at critical levels and prioritize proper risk management.
Disclaimer: I am not a SEBI-registered analyst. All views are for educational purposes only. Traders should conduct their own analysis or consult with their financial advisor before making any trading decisions.
#NIFTY Intraday Support and Resistance Levels - 13/12/2024Flat opening expected in nifty near the 24550 level. After opening if nifty gives reversal from the 24550 support level then expected upside rally upto the 24800 in today's session. Major 150-200+ points downside rally expected if nifty starts trading below 24500 level. Currently market trading into the consolidation phase.
NIFTY : Trading levels and plan for 13-Dec-2024Introduction
In the previous day's plan, we analyzed the Nifty 50 Index and identified key support and resistance levels. The chart highlighted a sideways trend in the yellow zone, a bullish trend in the green zone, and a bearish trend in the red zone. The actual price movement today followed the anticipated path, consolidating within the highlighted zones and providing opportunities for both long and short trades.
Trading Plan for 13-Dec-2024
Gap Up Opening (100+ points)
If Nifty opens with a gap up above 24,711.00, it is crucial to watch for a retest of the last and important resistance for intraday at 24,735.00. If the price sustains above this level, initiate long positions targeting 24,940.00.
Place a stop loss just below 24,711.00 to manage risk.
If the price fails to sustain above 24,735.00 and shows signs of reversal, consider short positions targeting the opening support/resistance zone at 24,484.00.
Monitor the price action closely and adjust stop losses to protect profits as the price moves in your favor.
Flat Opening
If Nifty opens flat around 24,539.50, observe the price action within the highlighted yellow zone.
A breakout and sustained movement above this range can pave the way for Nifty to target levels of 24,711.00 and 24,735.00.
Initiate long positions if the price breaks above the yellow zone with a stop loss just below the breakout level.
If the price remains within the yellow zone, avoid taking new positions and wait for a clear breakout or breakdown.
In case of a breakdown below the yellow zone, consider short positions targeting the support zone at 24,484.00.
Gap Down Opening (100+ points)
If Nifty opens with a gap down below 24,450.00, it is essential to watch for a retest of the opening support/resistance zone at 24,484.00.
If the price fails to reclaim this level and shows signs of further weakness, initiate short positions targeting the extended zone for Wave C correction at 24,354.00.
Place a stop loss just above 24,484.00 to manage risk.
If the price sustains above 24,484.00 after a gap down, consider long positions targeting the yellow zone and monitor for a potential reversal.
Adjust stop losses to protect profits as the price moves in your favor.
Risk Management Tips for Options Trading
Always use stop losses to limit potential losses.
Avoid over-leveraging and trade within your risk tolerance.
Diversify your trades to spread risk across different positions.
Keep an eye on implied volatility and time decay when trading options.
Regularly review and adjust your trading plan based on market conditions.
Summary and Conclusion
In summary, the trading plan for 13-Dec-2024 involves monitoring key support and resistance levels based on the opening scenario. For a gap-up opening, focus on sustaining above 24,735.00 for long positions. For a flat opening, watch for a breakout from the yellow zone. For a gap-down opening, monitor the 24,484.00 level for potential short positions. Implementing proper risk management strategies is crucial for successful options trading.
Disclaimer
I am not a SEBI registered analyst. The information provided is for educational purposes only and should not be considered as financial advice. Always conduct your own research and consult with a professional financial advisor before making any trading decisions.
Nifty Intraday trend forecast for tomorrow December 13, 2024On December 13, 2024 the Nifty spot is likely to close on a bullish note. If the given resistance 2 is broken, then it may move further up. However, the Nifty range may be around 150 points.
This is only for educational purposes. Any trade without a stop-loss is highly emotional and invalid.
#NIFTY Intraday Support and Resistance Levels - 12/12/2024Gap up opening expected in today's session. Expected opening near 24750 level. Currently nifty trading in the consolidation zone of 24550-24750 level. 24750-24800 zone act as a strong resistance for nifty. Strong upside rally expected if nifty gives breakout of this resistance zone. Downside 24550 is an important support. Any major downside only expected below this support level.
NIFTY : Trading Plan and levels for 12-Dec-2024NIFTY Trading Plan for 12-Dec-2024
Intro: Review of 11-Dec-2024 Plan vs Actual
The trading plan for 11-Dec-2024 outlined key levels such as the Bullish Order Block (24,655–24,607) and the Liquidity Zone (24,820). As predicted, the market respected the "No Trade Zone" initially, followed by consolidation in the Liquidity Zone. The sideways movement highlighted by the yellow trend prevailed, with no significant breakout or breakdown occurring during the session. The Profit Booking Zone at 25,053 remained untouched. This demonstrates the importance of waiting for clear confirmation before executing trades.
Today's updated chart builds upon these levels and provides actionable insights for 12-Dec-2024 based on anticipated price movements.
Opening Scenarios and Plan for 12-Dec-2024
Gap Up Opening (+100 points or more above 24,652):
If the market opens above 24,750:
Resistance Zone: Immediate resistance remains at 24,820 (Liquidity Zone). Price could either consolidate here or witness selling pressure. Monitor price action for clear breakout signals.
Action Plan: Avoid long entries near the Liquidity Zone unless a breakout above 24,940 is confirmed. Short positions can be initiated on rejection from 24,820, targeting 24,652.
Alternate Scenario: Sustained movement above 24,940 indicates bullish momentum, with targets at the Profit Booking Zone (25,053).
Yellow trend highlights a cautionary approach in consolidation zones.
Flat Opening (Near 24,629–24,652):
If the market opens flat:
No Trade Zone: Expect price to oscillate within 24,629–24,652, indicating indecisiveness. Avoid trading in this range.
Bullish Scenario: A confirmed breakout above 24,652 with a retest offers long opportunities, targeting the Liquidity Zone at 24,820.
Bearish Scenario: A breakdown below 24,541.65 suggests bearish momentum, with potential shorts targeting Buyer’s Strong Support at 24,374–24,338.
Yellow trend signals limited movement; wait for breakouts for better trades.
Gap Down Opening (-100 points or more below 24,541.65):
If the market opens below 24,450:
Support Zone: The critical support lies at 24,374–24,338, aligning with Buyer’s Strong Support near the CHoCH level.
Action Plan: Look for reversal signs near the support zone to initiate long trades with a tight stop loss below 24,300, aiming for 24,541.65.
Alternate Scenario: If this support fails, avoid aggressive longs and wait for stabilization before entering.
Red trend suggests bearish momentum; trade cautiously.
Tips for Risk Management in Options Trading
Use predefined stop losses to cap potential losses. For example, place stops below 24,541 for bullish trades and below 24,300 for reversal trades.
Avoid trading during the first 15 minutes to allow for market direction to emerge.
For option buyers, select ATM or slightly ITM options to reduce the impact of time decay.
Maintain a 1:2 or higher risk-reward ratio to ensure consistent profitability.
Position sizing should align with your risk tolerance to handle volatile price swings.
Summary and Conclusion
The NIFTY index remains in a consolidation phase with critical levels identified for bullish and bearish scenarios.
Liquidity Zone (24,820) and Buyer’s Support (24,374–24,338) are key areas to monitor for actionable trades.
Avoid trading in indecisive zones and wait for clear breakouts or breakdowns.
Effective risk management remains crucial, especially in volatile markets.
Disclaimer: This analysis is for educational purposes only. I am not a SEBI-registered analyst. Please conduct your own research or consult a financial advisor before trading.