Nifty's Key Levels & Trade Plan for 08/01/25
Hi Guys,
Here’s the breakdown of my Nifty analysis for today:
Resistance Levels:
23,800: Immediate resistance.
23,880: Strong selling zone; breakout could lead to 24,050.
Support Levels:
23,600: Key support with high Put OI.
23,500: Psychological level; a breakdown could take us to 23,400.
My Trade Plan:
Buy Above 23,810:
Target 1: 23,880
Target 2: 24,050
Stop-Loss: 23,780
Sell Below 23,590:
Target 1: 23,500
Target 2: 23,400
Stop-Loss: 23,620
View:
The market looks range-bound between 23,600 and 23,800 unless we see a breakout or breakdown with strong volume. Stay cautious of false moves!
Disclaimer:
This is purely my personal analysis and not financial advice. Please trade based on your own research and risk management.
What’s your view on today’s price action? Let’s discuss!
Niftytradesetup
NIFTY : Trading levels and Plan for 08-JAN-2025Nifty Trading Plan for 08-Jan-2025
Intro: Review of 07-Jan-2025 Plan
Yesterday's trading plan accurately highlighted the Opening Resistance Zone (23,849-23,888) , which acted as a cap for bullish momentum, and the Opening Support Zone (23,673-23,604) , which provided a bounce. The market respected these levels with a predominantly sideways movement (Yellow Trend). The Best Buying Zone (23,251-23,362) remained untouched, keeping the downside potential intact.
For 08-Jan-2025, we focus on three opening scenarios: Gap-Up, Flat, or Gap-Down, with actionable strategies and clear risk management guidelines.
Opening Scenarios:
Gap-Up Opening (100+ points above previous close):
If Nifty opens above 23,888 , the Opening Resistance Zone (23,849-23,888) will likely act as a critical area.
A breakout above 23,888 with volume could push Nifty toward the next resistance at 24,081 . Go long on confirmed breakout candles with small retracements.
A rejection near 23,888 could result in a pullback to test 23,673-23,604 . Wait for reversal confirmation before entering short positions.
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Risk Management Tip: Avoid aggressive CE buying after a large gap-up; instead, use intraday dip-buying strategies or spreads for better risk control.
Flat Opening (Near previous close):
A flat opening around 23,694 could lead to a range-bound session (Yellow Trend). This scenario requires patience and precise execution:
A bullish breakout above 23,849 could lead to upside momentum, targeting 23,888 and 24,081 .
On the downside, a breakdown below 23,604 could initiate bearish momentum, with targets at 23,483-23,518 .
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Risk Management Tip: Use option straddle strategies to benefit from potential sideways movements. Avoid overtrading in choppy market conditions.
Gap-Down Opening (100+ points below previous close):
If Nifty opens below 23,604 , focus on the Opening Support Zone (23,483-23,518) for potential reversals.
A bounce from 23,483-23,518 can provide a buying opportunity, targeting 23,604 and above.
A breakdown below 23,483 may trigger a bearish trend (Red Trend) toward the Best Buying Zone (23,251-23,362) . Wait for proper confirmation before initiating short trades.
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Risk Management Tip: For gap-down scenarios, use PE options or bear put spreads with defined risks. Be cautious of sharp reversals after a gap-down.
Key Levels to Watch:
Support Zones: 23,673-23,604, 23,483-23,518, and 23,251-23,362.
Resistance Zones: 23,849-23,888 and 24,081.
Summary & Conclusion:
Nifty is trading within a structured range, offering clear opportunities for intraday trades based on levels. Stick to disciplined execution, and do not chase trades without confirmation. Use options strategies to manage risk and maximize returns in volatile conditions.
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 Intraday Trade Setup | 6th January 2025Nifty opened flat, morning opening price was the day high and Nifty started falling soon after open. Nifty made low around 23975 and closed new day low.
Tomorrow, Buy Nifty if sustains above 24055 for the targets of 24105 and above marked level. On the other side, Sell Nifty if sustains below 23920 for the targets of 23850 and below marked level on the chart.
Expectations: Volatile day
Intraday Levels:
Buy Above - 24055
Sell Below - 23920
To motivate us, Please like the idea If you agree with the analysis.
Happy Trading!
InvestPro India
#NIFTY Intraday Support and Resistance Levels - 07/01/2025Expected nifty will open gap up in today's session near 23800 level. After opening any bullish movement expected if it's starts trading and sustain above 23800 level. Below 23750 downside rally expected upto the 23550 and this rally expected for further 200-250+ points movements in case nifty gives breakdown of 23450 level. 23450-23550 in this range possible some consolidation movements in market.
Market Analysis and Trade Setup for Nifty (07/01/2025)Market Bias for 07/01/2025:
The market remains bearish as long as the price stays below 23,700. However, potential opportunities for both bullish pullbacks and bearish continuations exist based on key levels and conditions.
Key Levels to Watch
Immediate Resistance (Supply Zone):
23,700 - 23,743: Fair Value Gap (FVG) and liquidity rejection zone.
If this level is breached, watch for a move toward 23,800 or 23,900.
Immediate Support (Demand Zone):
23,500 - 23,540: Strong demand zone from liquidity sweeps.
A breakdown below this level could lead to significant downside.
Critical Levels:
PDH: 23,742.
PDL: 23,459.
POC (High Volume Node): 23,600.
Trade Setups for Tomorrow
Bullish Trade Setup (Reversal Play)
Entry: Above 23,700 (FVG Retest).
Stop Loss: Below 23,650.
Target 1: 23,800.
Target 2: 23,900.
Confirmation Indicators:
RSI crosses above 50.
VWAP breakout with buy-side volume.
Bearish Trade Setup (Breakdown Play)
Entry: Below 23,530 ( liquidity sweep).
Stop Loss: Above 23,600.
Target 1: 23,450.
Target 2: 23,400.
Confirmation Indicators:
RSI remains below 40.
Strong sell-side volume below support levels.
Indicators to Monitor
VWAP: Price action above or below VWAP will dictate intraday bias.
RSI: Look for momentum shifts near key levels (above 50 for bullish, below 40 for bearish).
Volume: Watch for spikes near 23,600 (POC) to confirm institutional activity.
Key Observations
Bearish Bias:
Price remains bearish below 23,700; expect continuation toward 23,500 - 23,400.
Bullish Pullback:
Sustained buying above 23,700 could trigger short covering toward 23,900.
Final Thoughts
Avoid Choppy Zones: Between 23,600 - 23,700, price action may remain indecisive without volume.
Disclaimer
This analysis is for educational purposes only and should not be considered financial advice. Please do your own research and consult with a financial advisor before making any trading decisions.
#NIFTY Intraday Support and Resistance Levels - 06/01/2025Gap up opening expected in nifty. After opening nifty will trade in between the zone of 24000-24200 level. If nifty gives breakout of 24200 level and starts trading above 24250 then expected strong bullish rally in today's session. Similarly, In case nifty starts trading below 23950 level then bearish rally expected in nifty. This downside movement can goes upto 23750 level.
Nifty Intraday and Swing Trade Analysis For 06/01/25 And weekly
In this post, I’m sharing my detailed analysis of Nifty 50’s recent price action, focusing on intraday and swing trades. This setup incorporates technical patterns, volume confirmation, and Smart Money Concepts (SMC) to identify high-probability trade opportunities.
Key Observations
Bearish Momentum Across Timeframes: Both daily and intraday charts show strong bearish trends validated by supply zones and volume spikes.
Critical Levels Identified:
Resistance: 24,200 - 24,400 (Supply Zone).
Support: 23,950 (Intraday) and 23,700 - 23,500 (Swing Levels).
Volume Profile: Volume spikes on breakdowns confirm institutional involvement.
Trade Plan: Intraday
Scenario 1: Sell Below 23,950
Entry: Below 23,950 (confirmed breakdown).
Stop Loss: Above 24,050.
Target 1: 23,900.
Target 2: 23,850.
Rationale: Break below 23,950 signals bearish continuation with strong seller dominance.
Scenario 2: Buy Above 24,050
Entry: Above 24,050.
Stop Loss: Below 23,950.
Target 1: 24,100.
Target 2: 24,150.
Rationale: Reclaiming 24,050 indicates a potential bullish reversal.
Confidence Level: Moderate (requires strong buying volume).
SWING TRADING
Scenario 1: Swing Sell Below 23,900
Entry: Below 23,900.
Stop Loss: Above 24,150.
Target 1: 23,700.
Target 2: 23,500.
Rationale: A breakdown below 23,900 aligns with the long-term bearish structure and supply rejection.
Scenario 2: Swing Buy Above 24,200
Entry: Above 24,200.
Stop Loss: Below 24,000.
Target 1: 24,400.
Target 2: 24,600.
Rationale: Clearing the supply zone at 24,200 would confirm a trend reversal.
Confidence Level: Moderate.
Advanced Concepts Used
Smart Money Concepts (SMC):
Supply Zone: 24,200 - 24,400.
Demand Zone: 23,700 - 23,500.
Liquidity Trap: Below 23,950.
Volume Confirmation:
Selling volume spikes during breakdowns confirm bearish moves.
Low-volume retracements suggest weak buying interest.
Indicators:
RSI: Below 50 on daily charts, supporting bearish momentum.
MACD: Bearish crossover on daily charts aligns with the trend.
Moving Averages: Price below the 20 EMA and 50 EMA reinforces bearish bias.
Why This Trade Setup Stands Out
This analysis combines the best of price action, volume confirmation, and advanced SMC tools. Each level and decision is backed by data and market behavior, ensuring a methodical approach to trading.
Disclaimer
The views and trade ideas shared in this post are for informational and educational purposes only. They are not financial advice and should not be construed as a recommendation to buy, sell, or hold any securities or financial instruments. Trading involves significant risk, and you should carefully consider your financial situation, objectives, and risk tolerance before making any trading decisions.
NIFTY : Trading Levels and plan for 06-Jan-2025 Nifty Trading Plan for 6-Jan-2025
Introduction
The chart shared yesterday highlighted key zones and potential movements. The Opening Resistance Zone of 24,312 acted as a strong supply area, while the Support Zone between 23,970-24,016 was well respected. Actual price movement closely aligned with the predicted Yellow (Sideways) and Green (Bullish) trends, allowing traders to capitalize on the directional moves.
Today’s chart brings us new levels and strategies for varying opening scenarios. Let's dive into the details for 6-Jan-2025!
Trading Plan for 6-Jan-2025
Gap-Up Opening (100+ Points Above 24,016):
If Nifty opens with a significant gap-up:
Immediate resistance lies at 24,170-24,196. Wait for price action near this level.
Bullish Scenario: If prices sustain above 24,196 for 15 minutes, enter a long position with targets at 24,312 and 24,550. Use a stop-loss below 24,170.
Sideways Possibility: If price struggles near 24,170, expect a sideways trend, as shown in Yellow. Avoid overtrading here.
Flat Opening (Near 23,990):
If Nifty opens flat:
The key Opening Support Zone is at 23,973-23,902. This area serves as a no-trade zone unless there is a clear breakout or breakdown.
Bullish Scenario: Look for sustained buying above 24,016, targeting 24,170 initially and then 24,312.
Bearish Scenario: If prices fall below 23,902, expect a move toward the next support zone at 23,814. Use a tight stop-loss above 23,902.
Gap-Down Opening (100+ Points Below 23,970):
If Nifty opens with a gap-down:
Immediate focus should be on the First Support Zone at 23,814.
Bearish Scenario: If prices fail to hold 23,814, expect a sharp move toward 23,623 (Last Intraday Support).
Bullish Reversal Opportunity: If prices recover quickly and reclaim 23,970, consider going long for a target of 24,016. Stop-loss below 23,814.
Avoid aggressive shorting unless price action confirms weakness below 23,814.
Risk Management Tips for Options Traders:
Use smaller lot sizes to manage risk during volatile openings.
Focus on ATM (At the Money) options to reduce premium decay in uncertain conditions.
Avoid trading during the first 15 minutes unless clear trend confirmation is seen.
Always maintain a stop-loss and adhere to it.
Summary and Conclusion:
Today’s plan focuses on the key zones of resistance and support. The Opening Resistance Zone at 24,170-24,196 will be crucial for bullish continuation, while the Support Zones at 23,814 and 23,623 must be monitored for bearish breakdowns. Follow the Yellow, Green, and Red trends for guidance, and remember to prioritize risk management over aggressive trades.
Disclaimer: I am not a SEBI-registered analyst. This trading plan is for educational purposes only. Traders are advised to conduct their analysis or consult a financial advisor before executing any trades.
#nifty50 What Lies Ahead for Nifty & S&p500, 6-10th Jan 2025The Nifty Index this week staged a rally, closing at 24,004, a 200-point surge from the previous week. This bullish move, driven by a classic "W" pattern as predicted, saw highs of 24,226 and lows of 23,460. However, profit-taking by large players triggered a decline, confining the index within my anticipated range of 24,300-23,400.
For the upcoming week, I expect a trading range of 24,500-23,400 . A breach below 23,400 could find support at the 23,200-23,300 zone. A weekly close below this level would be a significant bearish signal, potentially triggering further selling pressure towards the 22,250 level. Conversely, a sustained move above 24,770 would signal a resumption of the uptrend, though this scenario currently appears challenging.
The S&P 500 also exhibited resilience this week, closing at 5,942 despite breaching the crucial support of 5,850. This formed a long-legged candle, indicating strong demand at lower levels. To reignite its upward momentum, the S&P 500 needs to close consecutively above 6,093. This bullish confirmation could propel it towards 6,142, 6,225, and even 6,376, providing a much-needed boost to global markets
#NIFTY Intraday Support and Resistance Levels - 03/01/2025Nifty will open slightly gap up in today's session. After opening if nifty gives breakout of 24250 level then expected strong bullish rally upto 24450+ level in today's session. 24050-24200 zone are consolidation zone for nifty. If nifty gives reversal from the 24200 then possible downside upto 24050 level. This level will act as a strong support for today's session.
NIFTY : Trading levels and Plan for 03-Jan-2024
Intro: Previous Day's Plan vs. Actual Chart Movement
In the trading plan for 2-Jan-2025, key levels worked exactly as predicted in plan
Price movement respected these levels, The bullish structure remained intact for the day, with significant opportunities for intraday gains.
Trading Plan for 3-Jan-2025
If Market Opens Gap Up (100+ Points Above Previous Close):
A gap-up opening above the Opening Resistance Zone (24,312) signals strength. Monitor price behavior for consolidation or sustained trading above this level. Sustaining above 24,312 could lead to a move towards the Last Resistance for Intraday (24,559) .
If prices fail to hold above 24,312 and retrace, expect a pullback toward the Opening Support/Resistance Zone (24,159-24,167) .
📈 Action Plan:
Look for long positions above 24,312 after a 15-minute candle close. Use stop loss at 24,167.
Avoid short positions unless there’s clear rejection with bearish confirmation.
📊 Trend Indicators:
Green: Bullish Move Expected.
If Market Opens Flat (Near Previous Close):
Observe price action near the Opening Support/Resistance Zone (24,159-24,167) . Sustained trading above this zone could trigger a move toward 24,312 .
A breakdown below 24,159 would indicate weakness, and prices could test the Opening Support Zone (24,016-24,058) .
📈 Action Plan:
For long trades, wait for price to break above 24,167 and confirm with volume. Use stop loss at 24,016.
For short trades, consider entry below 24,159 with a target of 24,016 and a stop loss at 24,167.
📊 Trend Indicators:
Yellow: Sideways Trend Expected.
If Market Opens Gap Down (100+ Points Below Previous Close):
A gap-down opening near 23,970 or the lower end of the Opening Support Zone (24,016-24,058) might provide a recovery opportunity. Monitor price action for a bounce back to 24,159.
If prices fail to sustain above 23,970, expect further downside toward the Last Intraday Support (23,815) .
📈 Action Plan:
For long positions, wait for recovery above 23,970 with bullish confirmation. Use stop loss at 23,815.
For short trades, consider entry below 23,970 with a target of 23,815 and a stop loss at 24,016.
📊 Trend Indicators:
Red: Bearish Move Expected.
Risk Management Tips for Options Trading:
Always calculate position sizing based on risk tolerance.
Use stop-loss orders to minimize losses, especially in high-volatility scenarios.
Avoid overtrading; wait for clear confirmation of price action before entering trades.
For intraday options, consider exiting positions by 3:15 PM to avoid overnight risk.
Summary and Conclusion:
The key levels for Nifty on 3-Jan-2025 are:
Resistance: 24,312 and 24,559.
Support: 24,016-24,058 and 23,815.
Use price action and trend behavior (Green for bullish, Yellow for sideways, and Red for bearish) to guide your trades. Stick to the plan, and prioritize risk management.
Disclaimer:
This trading plan is for educational purposes only. I am not a SEBI-registered analyst. Please consult your financial advisor before making any trading decisions.
NIFTY - Hajaari TradeHajaari Trade in Nifty seems active , provided it remains above 24K Level for next 3-4 Days!
NIFTY Staying above our Hajaari (Thousan Level) Trade since 31 Dec 2024.
Perfect Set up for our Hajaari Trade. Let's Ride the trend for 800 to 1k points from last Monthly Expiry.
Eyeing for 25500 Level with Bearish Expiry view this month End.
Let's see how market responds!
This Chart is for educational purpose & not a buy/sell recommendation.
Nifty may remain Bullish this month till 15 Jan, we may see a reversal basis Budget Movements. This is a Big yearly event which result in throwing Technical out of the window.
Technical Analysis may not work on Event Days like Budget, Election, Monitory Policy Review, RBI/ FED Interest Rat Decisions, etc. It is advised to check out Economic Calendar before planning a Trade!
Thank You
#NIFTY Intraday Support and Resistance Levels - 02/01/2025Gap up opening expected in nifty. Expected opening above 23800 level. After opening if it's sustain above this level then expected strong upside rally upto 24050 in today's session. Downside will be occurs in case nifty starts trading below the 23750 level. Downside rally expected upto 23550 support level.
NIFTY : Trading Levels and Plan for 02-Jan-2025WISH YOU ALL A VERY HAPPY NEW YEAR 2025
Introduction
In the previous trading session, we analyzed Nifty's key support and resistance levels for 1-Jan-2025. The chart provided a clear view of potential price movements under various scenarios. Yellow trends indicated sideways movement, green trends represented bullish behavior, and red trends highlighted bearish trends. Based on the chart for 1-Jan-2025, the actual price action unfolded as expected, staying within the highlighted zones and offering valuable insights for traders.
Trading Plan for 2-Jan-2025
Gap-Up Opening (100+ points)
If Nifty opens with a gap-up above 23,837 (No Trade Zone's upper band), observe the first 15-minute candle for confirmation.
If the price sustains above 23,837, expect a bullish trend targeting the Resistance Zone at 23,998 and further towards 24,068 for profit booking.
Place a stop loss just below 23,837 to manage risk and protect capital.
If the price fails to sustain above 23,837, expect a potential pullback towards the No Trade Zone. Monitor closely for any reversals within the zone.
Avoid taking positions inside the No Trade Zone unless a clear breakout or breakdown is visible.
Flat Opening
If Nifty opens flat near 23,758 (current market price), observe the price action for the first 15 minutes.
A breakout above 23,837 indicates bullish momentum towards 23,998 and 24,068, following the same plan as the gap-up scenario.
A breakdown below 23,699 (No Trade Zone's lower band) may signal a bearish move towards the Opening Support Zone at 23,617–23,640 and further towards 23,537.
Place a stop loss just above the breakdown or breakout levels to manage risk.
Wait for a confirmation candle (closing basis) before entering trades to avoid false signals.
Gap-Down Opening (100+ points)
If Nifty opens with a gap-down below 23,699, observe the first 15-minute candle for confirmation.
If the price sustains below 23,699, expect a bearish continuation targeting the Opening Support Zone at 23,617–23,640 and further towards the critical support at 23,537 (reversal zone).
Place a stop loss above 23,699 to manage risk.
If the price fails to sustain below 23,699, anticipate a pullback towards 23,837 and monitor for potential reversals in this region.
Avoid taking impulsive trades at open; let the levels guide your entries and exits.
Risk Management Tips for Options Trading
Always use stop losses to minimize potential losses.
Avoid over-leveraging; trade within your capital limits and risk tolerance.
Monitor implied volatility and time decay when trading options.
Diversify your trades to reduce exposure to single-direction risks.
Stick to your plan and avoid emotional decisions.
Summary and Conclusion
The trading plan for 2-Jan-2025 revolves around identifying key levels and understanding price behavior under various opening scenarios (Gap Up, Flat, or Gap Down). The No Trade Zone highlights areas to avoid unless clear trends are visible. Follow the highlighted trends: yellow for sideways, green for bullish, and red for bearish movements. By employing proper risk management and adhering to this plan, traders can make informed decisions and navigate market conditions effectively.
Disclaimer : I am not a SEBI-registered analyst. This trading plan is for educational purposes only and should not be construed as financial advice. Always conduct your research and consult a professional financial advisor before making trading decisions.
F&O Trading Idea - Nifty & Bank Nifty, INDEX & StocksWe get rejection Trades at these levels. These are highly dependable levels for rejection when approached first (Virgin).
Look out for reversal candlestick patterns like Morning or Evening Star, etc.
Simple things work BEST in market! Rest of the Gyan can be built around it ;)
It works for Index, Stocks & even with wild animals like NIFTY now! It was BNF earlier, Hope you have realized by now :)
#NIFTY Intraday Support and Resistance Levels - 01/01/2025Flat or slightly gap up opening expected in nifty. For today's session 23800 level will be the upside resistance for the nifty. Any major bullish rally only expected above this level. Downside 23550-23600 zone works as a support for today's session. Any major downside expected below this support zone. Between the 23550-23800 level consolidation movements possible in index.
#NIFTY Intraday Support and Resistance Levels - 31/12/2024Flat opening expected in nifty. After opening if it's sustain above 23600 level then possible upside movement in starting session. Upside 23800 level will act a strong resistance for today's session. Major downside in nifty expected if it's gives breakdown of 23500 level. This downside rally can goes upto 23250 level in today's session.
NIFTY : Trading levels and Plan for 31-Dec-2024[
Intro: Review of Previous Plan (30-Dec-2024)
Check plan V/s Actual performance for 30-Dec-2024 here : .
b]Trading Plan for Nifty - 31-Dec-2024
Key Color Codes in the Plan:
Yellow Trend: Sideways
Green Trend: Bullish
Red Trend: Bearish
Trading Plan for 31-Dec-2024:
Scenario 1: Gap-Up Opening (100+ points above 23,768)
If Nifty opens above 23,768 , the price is expected to move towards the Last Resistance for Intraday (23,866) .
Observe price action near 23,866 ; a breakout with sustained volume can trigger a long position targeting the Resistance for sideways at 24,010–24,058 .
If rejection occurs at 23,866 , look for bearish patterns (e.g., evening star or bearish engulfing). Initiate a short trade with a target of 23,737 .
Place a stop-loss 20 points beyond the breakout/rejection level to manage risk.
Scenario 2: Flat Opening (23,636–23,768)
A flat opening indicates indecision, and the market is likely to remain within the Yellow sideways zone .
Avoid trading aggressively in the Opening Resistance/Support zone (23,737–23,768) . Wait for a breakout above 23,768 to initiate long positions , targeting 23,866 .
On the downside, a breakdown below 23,636 could lead to bearish momentum towards the Buyer’s Support zone at 23,427 . Initiate short trades if the price sustains below 23,636 , with a stop-loss above 23,700 .
Scenario 3: Gap-Down Opening (100+ points below 23,604)
A gap-down below 23,604 could lead to bearish pressure, testing the Buyer’s Support zone at 23,427 .
Observe reversal patterns (e.g., hammer or bullish engulfing) at 23,427 . If confirmed, initiate long trades targeting 23,604 .
If the support fails, further bearish action could drive the price towards 23,320 . Enter short trades on confirmation of the breakdown, with a stop-loss above 23,500 .
Risk Management Tips for Options Trading:
Focus on in-the-money options to reduce the impact of time decay in sideways markets.
Use hedged strategies like iron condors to capitalize on low volatility within the sideways trend.
Always calculate your maximum loss and ensure it does not exceed 2% of your trading capital .
Avoid holding positions overnight without clear directional bias in the market.
Summary and Conclusion:
The key levels for tomorrow’s trading session are 23,768 on the upside and 23,427 on the downside.
Patience is critical within the Yellow sideways zone ; wait for clear breakouts or breakdowns.
Use defined stop-loss levels to minimize risk and maximize reward.
Disclaimer:
I am not a SEBI-registered analyst. This plan is for educational purposes only. Please conduct your analysis or consult with a financial advisor before making any trading decisions.
Nifty analysis for intraday 31/12/2024.Nifty has been trading in a range for the last 7 trading sessions.
Index is trading around the 20 EMA and giving sharp recovery on both sides.
Today it has closed below the moving averages. If the market starts trading below the No trading zone, bearish entry can be created for next support levels.
On the upper side the break out 23900 can clear the round number figure and test the Daily 20 EMA.
Wait for the price action near the levels before entering the trade.
#NIFTY Intraday Support and Resistance Levels - 30/12/2024Slightly gap up opening expected in nifty. After opening if nifty sustain above the 23850 level then expected upside rally upto the 24000+ level in today's session. Major downside expected if nifty not sustain above levels and starts trading below the 23800. This downside can goes upto the 23650 level.
NIFTY : Trading levels and Plan for 30-Dec-2024Trading Plan for Nifty - 30-Dec-2024
Intro: Review of Previous Plan (27-Dec-2024)
In the previous trading plan, we highlighted key zones, including the No Trade Zone (23,761–23,830) , the Last Intraday Resistance (24,010–24,058) , and the Buyer’s Support at 23,427 . As evident in the uploaded chart, Nifty traded within the highlighted zones, respecting the identified levels. The sideways momentum (Yellow trend) continued for most of the session, and an intraday attempt to breach the resistance zone was met with selling pressure, resulting in a close near the No Trade Zone.
Key Color Codes in the Plan:
Yellow Trend: Sideways
Green Trend: Bullish
Red Trend: Bearish
Trading Plan for 30-Dec-2024:
Scenario 1: Gap-Up Opening (100+ points above 23,930)
If Nifty opens above 23,930 , the market will be entering a bullish momentum zone. Look for a retest of the 24,010–24,058 resistance zone.
If the resistance is broken and sustained (hourly close above 24,058), initiate a long position targeting the retracement profit-booking resistance at 24,310 .
Place a stop-loss below the breakout level at 23,980 .
If the resistance holds, wait for rejection signals (red bearish candles) to initiate a short trade with a target of 23,761 .
Scenario 2: Flat Opening (23,800–23,850)
A flat opening indicates consolidation within the No Trade Zone (23,761–23,830) .
Avoid aggressive entries until Nifty decisively breaks out of the zone.
A breakout above 23,830 may signal a bullish move toward 24,010 . Look for confirmation with volume before entering a long trade .
On the downside, a breakdown below 23,761 could push Nifty toward 23,636 , the Last Intraday Support. In this case, initiate a short position with a stop-loss above 23,800 .
Scenario 3: Gap-Down Opening (100+ points below 23,730)
A gap-down opening below 23,730 signals bearish momentum. Observe if the price approaches the Buyer’s Support at 23,427 .
If the support holds, watch for reversal patterns (e.g., hammer or bullish engulfing) to initiate a long position targeting 23,761 .
A breakdown below 23,427 could extend the bearish trend to 23,300 or lower. Initiate a short trade if the breakdown is confirmed with a stop-loss above 23,500 .
Risk Management Tips for Options Trading:
Use defined risk strategies such as debit spreads to limit potential losses.
Avoid holding positions close to expiry to reduce time decay impact.
Trade with 1–2% of your total capital per trade to manage exposure.
Be cautious of high IV (Implied Volatility) spikes during gap openings.
Summary and Conclusion:
The plan emphasizes trading with confirmation signals and respecting highlighted zones.
Stay disciplined in the No Trade Zone to avoid unnecessary risks.
Follow the breakout and breakdown scenarios with defined stop-loss levels to maintain a favorable risk-reward ratio.
Disclaimer:
I am not a SEBI-registered analyst. All views are for educational purposes only. Traders are advised to do their analysis or consult with a financial advisor before making trading decisions.