📈 BANKNIFTY Trading Plan for 03-Feb-2025 📉
Key Levels to Watch:
Resistance Zones:
🔴 Last Intraday Resistance: 49,966 - 50,137
🔴 Opening Resistance: 49,778
🔴 Major Resistance for Sideways Market: 50,378
Support Zones:
🟠 Opening Support/Resistance Zone (Sideways): 49,296 - 49,466
🟢 Last Intraday Support: 49,082
🟢 Major Support Zone: 48,723
🟢 GAP-UP Opening (200+ Points)(Typically above 49,720 region)
➡️ If BANKNIFTY opens above 49,778 and sustains, we need to observe price action at 49,966-50,137 (last intraday resistance zone).
📝 Educational Tip: In strong gap-up scenarios, avoid chasing the market immediately. Let the price consolidate near key resistance levels before taking a trade.
↔️ Sideways Possibility: If BANKNIFTY stays between 49,778 - 50,137, it may remain range-bound. Wait for a breakout.
⚖️ FLAT Opening (Near 49,500 - 49,600)
➡️ A flat opening would indicate market indecision and a need for further confirmation.
📝 Educational Tip: Flat openings require patience. Let the market establish a clear direction before entering. Avoid overtrading in a choppy market.
🔴 GAP-DOWN Opening (200+ Points)(Typically below 49,300)
➡️ If BANKNIFTY opens below 49,296, it indicates weakness and possible downside towards 49,082 and 48,723.
📝 Educational Tip: In gap-down scenarios, watch for institutional buying or aggressive selling. Avoid counter-trend trades without confirmation.
📌 Risk Management Tips for Options Traders
✅ Trade with Defined Risk: Always set a stop loss before entering a trade.
✅ Avoid Overleveraging: Keep position sizes within your risk tolerance.
✅ Watch for Volatility: Sudden spikes in IV (Implied Volatility) can impact options pricing.
✅ Exit at Key Levels: If a trade reaches resistance/support, book partial profits.
✅ Use Spreads for Safety: Instead of naked options, consider spreads to minimize risk.
📊 Summary & ConclusionGap-Up: Watch for resistance at 50,137; breakout targets 50,378.Flat Opening: Key support at 49,466; break above 49,600 can lead to bullish movement.Gap-Down: Below 49,296, expect 49,082 - 48,723; bounce possible from support.
🛑 Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only. Trade at your own risk.
🚀 Happy Trading & Stay Disciplined! 💰
Key Levels to Watch:
Resistance Zones:
🔴 Last Intraday Resistance: 49,966 - 50,137
🔴 Opening Resistance: 49,778
🔴 Major Resistance for Sideways Market: 50,378
Support Zones:
🟠 Opening Support/Resistance Zone (Sideways): 49,296 - 49,466
🟢 Last Intraday Support: 49,082
🟢 Major Support Zone: 48,723
🟢 GAP-UP Opening (200+ Points)(Typically above 49,720 region)
➡️ If BANKNIFTY opens above 49,778 and sustains, we need to observe price action at 49,966-50,137 (last intraday resistance zone).
- Bullish Scenario: If price consolidates above 50,137 and breaks out with volume, expect a rally towards 50,378+ levels. 📈
📌 Entry: Above 50,137🎯 Target: 50,300-50,378❌ Stop Loss: Below 49,950 - Bearish Rejection: If price rejects from 50,137 and fails to sustain, expect a pullback towards 49,778.
📌 Entry: Below 50,000 after confirmation🎯 Target: 49,800-49,720❌ Stop Loss: Above 50,150
📝 Educational Tip: In strong gap-up scenarios, avoid chasing the market immediately. Let the price consolidate near key resistance levels before taking a trade.
↔️ Sideways Possibility: If BANKNIFTY stays between 49,778 - 50,137, it may remain range-bound. Wait for a breakout.
⚖️ FLAT Opening (Near 49,500 - 49,600)
➡️ A flat opening would indicate market indecision and a need for further confirmation.
- Bullish Bias: If price takes support at 49,466 - 49,500 and starts moving up, it can retest 49,778, then 49,966.
📌 Entry: Above 49,600 after bullish confirmation🎯 Target: 49,778 - 49,966❌ Stop Loss: Below 49,450 - Bearish Breakdown: If BANKNIFTY breaks below 49,466, expect a move towards 49,296 or even 49,082 (last intraday support).
📌 Entry: Below 49,466🎯 Target: 49,300 - 49,082❌ Stop Loss: Above 49,550
📝 Educational Tip: Flat openings require patience. Let the market establish a clear direction before entering. Avoid overtrading in a choppy market.
🔴 GAP-DOWN Opening (200+ Points)(Typically below 49,300)
➡️ If BANKNIFTY opens below 49,296, it indicates weakness and possible downside towards 49,082 and 48,723.
- Bearish Continuation: If price sustains below 49,296, expect selling pressure towards 49,082 and 48,723.
📌 Entry: Below 49,296🎯 Target: 49,082 - 48,723❌ Stop Loss: Above 49,400 - Bounce Back Scenario: If BANKNIFTY takes support at 49,082 and shows strong reversal, we may see a move back towards 49,300 or even 49,466.
📌 Entry: Above 49,100 after confirmation🎯 Target: 49,296 - 49,466❌ Stop Loss: Below 49,000
📝 Educational Tip: In gap-down scenarios, watch for institutional buying or aggressive selling. Avoid counter-trend trades without confirmation.
📌 Risk Management Tips for Options Traders
✅ Trade with Defined Risk: Always set a stop loss before entering a trade.
✅ Avoid Overleveraging: Keep position sizes within your risk tolerance.
✅ Watch for Volatility: Sudden spikes in IV (Implied Volatility) can impact options pricing.
✅ Exit at Key Levels: If a trade reaches resistance/support, book partial profits.
✅ Use Spreads for Safety: Instead of naked options, consider spreads to minimize risk.
📊 Summary & ConclusionGap-Up: Watch for resistance at 50,137; breakout targets 50,378.Flat Opening: Key support at 49,466; break above 49,600 can lead to bullish movement.Gap-Down: Below 49,296, expect 49,082 - 48,723; bounce possible from support.
🛑 Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only. Trade at your own risk.
🚀 Happy Trading & Stay Disciplined! 💰
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.