📌 NIFTY TRADING PLAN – 06-Feb-2025
🔹 Previous Close: 23,685.10
🔹 Important Zones Identified:
🟥 Sharp Profit Booking Zone: 24,065 - 24,154🟥 Opening Resistance: 23,848🟧 Opening Support / Resistance: 23,683 - 23,658🟩 Last Intraday Support: 23,567🟢 Buyer's Support: 23,374 - 23,345
📈 Scenario 1: Gap-Up Opening (Above 100+ Points)
If NIFTY opens with a strong gap-up above 23,785, it will move toward the Opening Resistance (23,848) and may attempt to test the Profit Booking Zone (24,065 - 24,154).
📝 Pro Tip: If NIFTY opens directly in the Profit Booking Zone, avoid aggressive long positions. Wait for a breakout or a reversal setup.
📊 Scenario 2: Flat Opening (Between 23,683 - 23,658)
A flat opening means NIFTY is near the Opening Support / Resistance Zone (23,683 - 23,658). Patience is required to confirm the direction.
📝 Pro Tip: Flat openings often result in choppy movement for the first 15-30 minutes. Let the market establish direction before entering trades.
📉 Scenario 3: Gap-Down Opening (Below 23,567)
If NIFTY opens below 23,567, it enters the Last Intraday Support Zone and may attempt to test the Buyer's Support (23,374 - 23,345).
📝 Pro Tip: If NIFTY gaps down but quickly recovers above 23,567, it could be a bear trap—watch for bullish confirmations.
⚠️ Risk Management & Options Trading Tips
✔ For Option Buyers: Select ATM (At-the-Money) strikes to avoid time decay. Enter only when price action confirms the trade.
✔ For Option Sellers: If IV (Implied Volatility) is high, consider selling OTM (Out-of-the-Money) options near key resistance/support levels.
✔ Always use SL: Protect capital! A good Risk-to-Reward (R:R) ratio is essential for long-term success.
✔ Avoid Overtrading: Stick to planned setups—don’t force trades.
📌 Summary & Conclusion
🚀 Bullish above: 23,685 (Target 23,848+)📉 Bearish below: 23,658 (Target 23,567 - 23,345)⚠️ Watch Key Zones: No Trade Zone & Profit Booking Area📊 Expect Volatility: Let the first 15-30 minutes settle before aggressive trades.
⚠️ Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only. Always do your own research before taking any trades. 📢📊
🔹 Previous Close: 23,685.10
🔹 Important Zones Identified:
🟥 Sharp Profit Booking Zone: 24,065 - 24,154🟥 Opening Resistance: 23,848🟧 Opening Support / Resistance: 23,683 - 23,658🟩 Last Intraday Support: 23,567🟢 Buyer's Support: 23,374 - 23,345
📈 Scenario 1: Gap-Up Opening (Above 100+ Points)
If NIFTY opens with a strong gap-up above 23,785, it will move toward the Opening Resistance (23,848) and may attempt to test the Profit Booking Zone (24,065 - 24,154).
- [] 🔹 Bullish Strategy:
- [] If NIFTY sustains above 23,848, expect a continuation towards 24,065 - 24,154.
- An ideal entry can be on a pullback towards 23,848, with a stop-loss below 23,750.
- [] If NIFTY shows rejection around 24,065 - 24,154, a short trade can be initiated.
[] Target for shorts: 23,848 - 23,685.
[] Stop-loss for short trades: Above 24,200.
- [] If NIFTY sustains above 23,848, expect a continuation towards 24,065 - 24,154.
📝 Pro Tip: If NIFTY opens directly in the Profit Booking Zone, avoid aggressive long positions. Wait for a breakout or a reversal setup.
📊 Scenario 2: Flat Opening (Between 23,683 - 23,658)
A flat opening means NIFTY is near the Opening Support / Resistance Zone (23,683 - 23,658). Patience is required to confirm the direction.
- [] 🔹 Bullish Plan:
- [] If NIFTY breaks above 23,685 with strong volume, a long trade can be considered.
[] Targets: 23,743 - 23,848.
[] Stop-loss: Below 23,650.
- [] If NIFTY breaks below 23,658, expect a decline towards 23,567.
- Short trades can be initiated with a stop-loss above 23,700.
- [] If NIFTY breaks above 23,685 with strong volume, a long trade can be considered.
📝 Pro Tip: Flat openings often result in choppy movement for the first 15-30 minutes. Let the market establish direction before entering trades.
📉 Scenario 3: Gap-Down Opening (Below 23,567)
If NIFTY opens below 23,567, it enters the Last Intraday Support Zone and may attempt to test the Buyer's Support (23,374 - 23,345).
- [] 🔹 Buying Opportunity:
- [] A strong bullish reversal from 23,374 - 23,345 can provide a long opportunity.
[] Target: 23,567 - 23,685.
[] Stop-loss: Below 23,300.
- [] If 23,345 is broken, expect further downside towards 23,200.
- Short trades can be initiated with SL above 23,400.
- [] A strong bullish reversal from 23,374 - 23,345 can provide a long opportunity.
📝 Pro Tip: If NIFTY gaps down but quickly recovers above 23,567, it could be a bear trap—watch for bullish confirmations.
⚠️ Risk Management & Options Trading Tips
✔ For Option Buyers: Select ATM (At-the-Money) strikes to avoid time decay. Enter only when price action confirms the trade.
✔ For Option Sellers: If IV (Implied Volatility) is high, consider selling OTM (Out-of-the-Money) options near key resistance/support levels.
✔ Always use SL: Protect capital! A good Risk-to-Reward (R:R) ratio is essential for long-term success.
✔ Avoid Overtrading: Stick to planned setups—don’t force trades.
📌 Summary & Conclusion
🚀 Bullish above: 23,685 (Target 23,848+)📉 Bearish below: 23,658 (Target 23,567 - 23,345)⚠️ Watch Key Zones: No Trade Zone & Profit Booking Area📊 Expect Volatility: Let the first 15-30 minutes settle before aggressive trades.
⚠️ Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only. Always do your own research before taking any trades. 📢📊
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.