BANKNIFTY : Trading levels and Plan for 13-Jan-2025
Bank Nifty Trading Plan for 13-Jan-2025
Key Levels to Watch:
🔹 Last Intraday Resistance: 49,596 – 49,666
🔹 Opening Resistance Zone: 49,164 – 49,270
🔹 Opening Support/Resistance: 48,802
🔹 Support Zone on Day Chart: 48,484
🔹 Major Support Level: 47,788
Gap-Up Opening (+200 Points Above)
If Bank Nifty opens above 49,270:
📈 Plan for Long Trades:
Look for bullish momentum towards the Last Intraday Resistance Zone (49,596 – 49,666).
A breakout above 49,666 with strong volume can push prices toward 49,800 or higher.
Enter long trades only after confirmation with a strong bullish candle.
Stop Loss: Below 49,270 for a favorable risk-reward ratio.
📉 Rejection Scenario:
If the price fails to hold above 49,666, book profits on long trades and wait for a pullback near the Opening Resistance Zone (49,164 – 49,270) for re-entry.
💡 Tip: Hedge gap-up trades with put options to manage volatility.
Flat Opening (±50 Points Around 48,779)
If Bank Nifty opens near 48,779:
⚠️ Wait for Directional Clarity:
Avoid entering trades immediately. Let the price action define the trend between 48,484 (Support) and 49,270 (Resistance).
🟢 Bullish Breakout Plan:
A breakout above 49,270 may lead to a rally toward 49,596 – 49,666.
Go long only after a retest of the breakout level with a stop loss below 48,802.
🔴 Bearish Breakdown Plan:
If the price breaks below 48,484, it could slide toward 47,788.
Consider shorting only if strong selling pressure is observed. Keep a stop loss above 48,802.
💡 Tip: Avoid overtrading in flat openings. Wait for the first 30 minutes to confirm the trend.
Gap-Down Opening (-200 Points Below)
If Bank Nifty opens below 48,484:
🔻 Reversal Plan:
Look for buying opportunities near 47,788 (Major Support).
If a bullish reversal is confirmed, go long with a target toward 49,164 – 49,270.
🚨 Breakdown Scenario:
If the price breaks below 47,788, expect further downside.
Avoid catching a falling knife—wait for consolidation before considering long trades.
💡 Tip: Use ATM or ITM options to benefit from intraday volatility in a gap-down scenario.
Summary:
💡 Risk Management Tip: Avoid over-leveraging, and consider straddle/strangle strategies to capture volatile moves.
Disclaimer:
I am not a SEBI-registered analyst. This trading plan is for educational purposes only. Please consult a certified financial advisor before making trading decisions. Trade wisely! 💼
Key Levels to Watch:
🔹 Last Intraday Resistance: 49,596 – 49,666
🔹 Opening Resistance Zone: 49,164 – 49,270
🔹 Opening Support/Resistance: 48,802
🔹 Support Zone on Day Chart: 48,484
🔹 Major Support Level: 47,788
Gap-Up Opening (+200 Points Above)
If Bank Nifty opens above 49,270:
📈 Plan for Long Trades:
Look for bullish momentum towards the Last Intraday Resistance Zone (49,596 – 49,666).
A breakout above 49,666 with strong volume can push prices toward 49,800 or higher.
Enter long trades only after confirmation with a strong bullish candle.
Stop Loss: Below 49,270 for a favorable risk-reward ratio.
📉 Rejection Scenario:
If the price fails to hold above 49,666, book profits on long trades and wait for a pullback near the Opening Resistance Zone (49,164 – 49,270) for re-entry.
💡 Tip: Hedge gap-up trades with put options to manage volatility.
Flat Opening (±50 Points Around 48,779)
If Bank Nifty opens near 48,779:
⚠️ Wait for Directional Clarity:
Avoid entering trades immediately. Let the price action define the trend between 48,484 (Support) and 49,270 (Resistance).
🟢 Bullish Breakout Plan:
A breakout above 49,270 may lead to a rally toward 49,596 – 49,666.
Go long only after a retest of the breakout level with a stop loss below 48,802.
🔴 Bearish Breakdown Plan:
If the price breaks below 48,484, it could slide toward 47,788.
Consider shorting only if strong selling pressure is observed. Keep a stop loss above 48,802.
💡 Tip: Avoid overtrading in flat openings. Wait for the first 30 minutes to confirm the trend.
Gap-Down Opening (-200 Points Below)
If Bank Nifty opens below 48,484:
🔻 Reversal Plan:
Look for buying opportunities near 47,788 (Major Support).
If a bullish reversal is confirmed, go long with a target toward 49,164 – 49,270.
🚨 Breakdown Scenario:
If the price breaks below 47,788, expect further downside.
Avoid catching a falling knife—wait for consolidation before considering long trades.
💡 Tip: Use ATM or ITM options to benefit from intraday volatility in a gap-down scenario.
Summary:
- [] For a Gap-Up Opening, focus on a breakout above 49,666 but be cautious around key resistance levels.
[] For a Flat Opening, wait for a decisive breakout or breakdown from the range 48,484 – 49,270. - For a Gap-Down Opening, 47,788 will act as a critical support zone. Look for reversal opportunities or breakdown trades.
💡 Risk Management Tip: Avoid over-leveraging, and consider straddle/strangle strategies to capture volatile moves.
Disclaimer:
I am not a SEBI-registered analyst. This trading plan is for educational purposes only. Please consult a certified financial advisor before making trading decisions. Trade wisely! 💼
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