Key Levels to Watch:
Profit Booking Zone: 23,775 – 23,830
Last Intraday Resistance: 23,663
Opening Resistance: 23,588 – 23,613
No Trading Zone: 23,437 – 23,470
Opening Support: 23,339
Initial Support: 23,250
Buyer's Support Zone: 23,057 – 23,094
Gap Up Opening (100+ Points Above)
If Nifty opens above 23,613:
Monitor price action near the 23,663 resistance zone. A breakout with strong volume above this level can lead to a rally towards the Profit Booking Zone at 23,775–23,830. Consider initiating long positions if confirmation occurs.
If the price struggles near 23,663, wait for a rejection pattern and evaluate for potential pullback trades back to the Opening Resistance zone (23,588–23,613).
💡 Risk Management Tip: When trading gap-ups, avoid entering impulsively. Let the price settle for the first 15 minutes. Use tight stop losses for trades near resistance zones.
Flat Opening (±50 Points Around 23,437)
If Nifty opens within the No Trading Zone (23,437–23,470):
Stay cautious and avoid taking trades until the price breaks out of this consolidation range.
A breakout above 23,470 with strength can lead to a move toward the Opening Resistance zone (23,588–23,613). Enter long positions only after a successful retest of this breakout.
A breakdown below 23,437 could push the price toward Opening Support (23,339). Short positions can be initiated after confirmation.
💡 Risk Management Tip: Avoid overtrading in no-trade zones. Patience is key to spotting high-probability setups.
Gap Down Opening (100+ Points Below)
If Nifty opens below 23,339:
Watch for buying opportunities in the Initial Support zone (23,250). If the price forms a bullish reversal pattern, consider entering long trades targeting the Opening Resistance zone (23,588–23,613).
If selling pressure persists and Nifty moves toward the Buyer's Support Zone (23,057–23,094), this zone becomes crucial for long trades with tight stop losses.
A breach of 23,057 with strong volume can lead to further downside. Avoid long trades until support is regained.
💡 Risk Management Tip: In gap-down scenarios, avoid catching falling knives. Use smaller lot sizes and wait for strong reversal signals before entering trades.
Summary & Conclusion
For a gap up, focus on levels above 23,613 and monitor the resistance zones carefully for breakouts or rejections.
For a flat opening, wait for a breakout or breakdown from the No Trading Zone (23,437–23,470) to avoid false moves.
For a gap down, be patient around Initial Support (23,250) or Buyer's Support Zone (23,057–23,094) for reversal trades.
💡 Options Trading Tip: Use OTM strikes near key levels for intraday trades. Always hedge your positions, especially in volatile conditions.
Disclaimer:
I am not a SEBI-registered analyst. This plan is for educational purposes only. Please consult with your financial advisor before taking any trades. Trade responsibly!
Profit Booking Zone: 23,775 – 23,830
Last Intraday Resistance: 23,663
Opening Resistance: 23,588 – 23,613
No Trading Zone: 23,437 – 23,470
Opening Support: 23,339
Initial Support: 23,250
Buyer's Support Zone: 23,057 – 23,094
Gap Up Opening (100+ Points Above)
If Nifty opens above 23,613:
Monitor price action near the 23,663 resistance zone. A breakout with strong volume above this level can lead to a rally towards the Profit Booking Zone at 23,775–23,830. Consider initiating long positions if confirmation occurs.
If the price struggles near 23,663, wait for a rejection pattern and evaluate for potential pullback trades back to the Opening Resistance zone (23,588–23,613).
💡 Risk Management Tip: When trading gap-ups, avoid entering impulsively. Let the price settle for the first 15 minutes. Use tight stop losses for trades near resistance zones.
Flat Opening (±50 Points Around 23,437)
If Nifty opens within the No Trading Zone (23,437–23,470):
Stay cautious and avoid taking trades until the price breaks out of this consolidation range.
A breakout above 23,470 with strength can lead to a move toward the Opening Resistance zone (23,588–23,613). Enter long positions only after a successful retest of this breakout.
A breakdown below 23,437 could push the price toward Opening Support (23,339). Short positions can be initiated after confirmation.
💡 Risk Management Tip: Avoid overtrading in no-trade zones. Patience is key to spotting high-probability setups.
Gap Down Opening (100+ Points Below)
If Nifty opens below 23,339:
Watch for buying opportunities in the Initial Support zone (23,250). If the price forms a bullish reversal pattern, consider entering long trades targeting the Opening Resistance zone (23,588–23,613).
If selling pressure persists and Nifty moves toward the Buyer's Support Zone (23,057–23,094), this zone becomes crucial for long trades with tight stop losses.
A breach of 23,057 with strong volume can lead to further downside. Avoid long trades until support is regained.
💡 Risk Management Tip: In gap-down scenarios, avoid catching falling knives. Use smaller lot sizes and wait for strong reversal signals before entering trades.
Summary & Conclusion
For a gap up, focus on levels above 23,613 and monitor the resistance zones carefully for breakouts or rejections.
For a flat opening, wait for a breakout or breakdown from the No Trading Zone (23,437–23,470) to avoid false moves.
For a gap down, be patient around Initial Support (23,250) or Buyer's Support Zone (23,057–23,094) for reversal trades.
💡 Options Trading Tip: Use OTM strikes near key levels for intraday trades. Always hedge your positions, especially in volatile conditions.
Disclaimer:
I am not a SEBI-registered analyst. This plan is for educational purposes only. Please consult with your financial advisor before taking any trades. Trade responsibly!
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.