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! 💼
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.