📊 Nifty 50 Trading Plan for 8-May-2025
Timeframe: 15-Min | Previous Close: 24,409.30
🔎 Key Technical Levels to Watch:
🔴 Opening Resistance: 24,511
🟧 Opening Resistance / Support: 24,409
🟩 Support Zone: 24,320 – 24,280
🟦 Last Intraday Support: 24,179
🟢 Major Support Level: 24,073
📌 Sideways Resistance Zone: 24,586 – 24,634
🟢 1. Gap-Up Opening (📈 Opening above 24,509 — Gap of 100+ Points)
If Nifty opens above 24,509, it is entering the Opening Resistance Zone. A strong open near or within 24,586 – 24,634 (marked as Sideways Resistance) needs cautious handling.
✅ Plan of Action:
- Avoid chasing longs immediately into this resistance zone.
- Wait for the first 15–30 minutes to observe whether buyers sustain above 24,586.
- If price consolidates above 24,586 and gives a breakout with volume, it may test higher levels intraday.
- However, if price faces rejection (like long upper wicks or bearish engulfing candles), initiate shorts below 24,511 for targets of 24,409 and possibly 24,320 – 24,280.
📝 Educational Insight: Gap-up openings into resistance zones often trap late buyers. Wait for confirmation in the form of retests or strong follow-through candles before taking trades.
🟡 2. Flat Opening (🔄 Between 24,309 – 24,509)
If Nifty opens flat near 24,409 (previous close), the market will likely consolidate in the initial minutes.
✅ Plan of Action:
- Observe the price action within the first 15-minute candle.
- If price sustains above 24,409, look for a move toward 24,511. A breakout above that may attempt to test the 24,586 – 24,634 resistance zone.
- On the downside, if price breaks and sustains below 24,320, expect selling pressure towards 24,179.
- Be flexible and neutral at open. Let the initial 30-minute range define the trend.
📝 Educational Insight: Flat opens offer great opportunity to play breakout/breakdown setups. Wait for a strong directional move from the initial balance zone before entering trades.
🔴 3. Gap-Down Opening (📉 Opening below 24,309 — Gap of 100+ Points)
A gap-down open below 24,309, especially near or under the support zone of 24,320 – 24,280, demands caution and strategic planning.
✅ Plan of Action:
- If the price opens around 24,280 – 24,179 zone, check for immediate bounce or sideways consolidation.
- A bullish reversal candle (hammer, bullish engulfing) around this zone can lead to a bounce back towards 24,409.
- However, if price breaks 24,179 decisively, and a 15-min candle closes below it, a quick slide towards 24,073 is likely.
- Do not catch falling knives—wait for a retest or formation of a base.
📝 Educational Insight: Gap-downs often create panic, but they also offer the best risk-reward trades if reversal patterns form near strong support zones. Let the market show you the strength.
💡 Risk Management Tips for Options Trading:
📌 Summary & Conclusion:
Nifty is at a critical juncture with clear supply at 24,511 – 24,634 and support at 24,320 – 24,073.
For Gap-Up openings, caution near resistance is key—wait for breakout confirmation.
For Flat opens, let the range develop before breakout trades.
For Gap-Downs, avoid emotional trades—wait for proper reversal signals near 24,179 or 24,073.
Focus on quality setups, defined risk, and disciplined exits.
📢 Disclaimer:
I am not a SEBI-registered analyst. The above trading plan is intended purely for educational purposes. Please consult with your financial advisor before taking any trading or investment decisions.
Timeframe: 15-Min | Previous Close: 24,409.30
🔎 Key Technical Levels to Watch:
🔴 Opening Resistance: 24,511
🟧 Opening Resistance / Support: 24,409
🟩 Support Zone: 24,320 – 24,280
🟦 Last Intraday Support: 24,179
🟢 Major Support Level: 24,073
📌 Sideways Resistance Zone: 24,586 – 24,634
🟢 1. Gap-Up Opening (📈 Opening above 24,509 — Gap of 100+ Points)
If Nifty opens above 24,509, it is entering the Opening Resistance Zone. A strong open near or within 24,586 – 24,634 (marked as Sideways Resistance) needs cautious handling.
✅ Plan of Action:
- Avoid chasing longs immediately into this resistance zone.
- Wait for the first 15–30 minutes to observe whether buyers sustain above 24,586.
- If price consolidates above 24,586 and gives a breakout with volume, it may test higher levels intraday.
- However, if price faces rejection (like long upper wicks or bearish engulfing candles), initiate shorts below 24,511 for targets of 24,409 and possibly 24,320 – 24,280.
📝 Educational Insight: Gap-up openings into resistance zones often trap late buyers. Wait for confirmation in the form of retests or strong follow-through candles before taking trades.
🟡 2. Flat Opening (🔄 Between 24,309 – 24,509)
If Nifty opens flat near 24,409 (previous close), the market will likely consolidate in the initial minutes.
✅ Plan of Action:
- Observe the price action within the first 15-minute candle.
- If price sustains above 24,409, look for a move toward 24,511. A breakout above that may attempt to test the 24,586 – 24,634 resistance zone.
- On the downside, if price breaks and sustains below 24,320, expect selling pressure towards 24,179.
- Be flexible and neutral at open. Let the initial 30-minute range define the trend.
📝 Educational Insight: Flat opens offer great opportunity to play breakout/breakdown setups. Wait for a strong directional move from the initial balance zone before entering trades.
🔴 3. Gap-Down Opening (📉 Opening below 24,309 — Gap of 100+ Points)
A gap-down open below 24,309, especially near or under the support zone of 24,320 – 24,280, demands caution and strategic planning.
✅ Plan of Action:
- If the price opens around 24,280 – 24,179 zone, check for immediate bounce or sideways consolidation.
- A bullish reversal candle (hammer, bullish engulfing) around this zone can lead to a bounce back towards 24,409.
- However, if price breaks 24,179 decisively, and a 15-min candle closes below it, a quick slide towards 24,073 is likely.
- Do not catch falling knives—wait for a retest or formation of a base.
📝 Educational Insight: Gap-downs often create panic, but they also offer the best risk-reward trades if reversal patterns form near strong support zones. Let the market show you the strength.
💡 Risk Management Tips for Options Trading:
- [] 📏 Size your positions properly: Never risk more than 1–2% of your capital in one trade.
[] 🕒 Time your trades: Avoid aggressive buying post 11:30 AM unless clear direction emerges.
[] 📉 Avoid averaging losing positions in options; take the SL and re-enter with structure confirmation.
[] 🛠️ Prefer hedged strategies like spreads or iron condors if volatility is high. - 🔁 Use time-based exits (e.g., square off by 3:00 PM if momentum stalls).
📌 Summary & Conclusion:
Nifty is at a critical juncture with clear supply at 24,511 – 24,634 and support at 24,320 – 24,073.
For Gap-Up openings, caution near resistance is key—wait for breakout confirmation.
For Flat opens, let the range develop before breakout trades.
For Gap-Downs, avoid emotional trades—wait for proper reversal signals near 24,179 or 24,073.
Focus on quality setups, defined risk, and disciplined exits.
📢 Disclaimer:
I am not a SEBI-registered analyst. The above trading plan is intended purely for educational purposes. Please consult with your financial advisor before taking any trading or investment decisions.
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As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.