Nifty Bank Index
Panjang

BANKNIFTY : Intraday Trading Levels and Plan for 13-Mar-2025

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๐Ÿ“˜ BANKNIFTY Trading Plan for 13-Mar-2025
Chart Reference: The market is currently placed around 48,055, with defined zones of resistance and support as per the 15-min price action. Based on this, letโ€™s breakdown the plan into different opening scenarios ๐Ÿ‘‡

โœ… 1. GAP-UP OPENING (200+ points above previous close)
If BANKNIFTY opens around 48,250โ€“48,400 or higher:

๐Ÿ‘‰ This will place prices near the first key supply zone:
๐Ÿ“ Resistance Zone: 48,319โ€“48,369
๐ŸŸฅ If price opens here, wait for the first 15โ€“30 mins to see if it sustains above the zone.
โœ… A strong candle above 48,370 with volume can trigger a long entry for targets:
โžค 48,534 (Last intraday resistance)
โžค 48,890 (Upper Target Zone)

๐Ÿ“‰ On the flip side, if price fails to sustain this zone and shows rejection with a bearish engulfing or M pattern:
โ†’ Look for shorting opportunities with targets back to 48,085 and even 47,748.

๐Ÿง  Important Tip: Avoid rushing into trades at open. Let the first few candles confirm strength or weakness. Use tight SL for long near resistance.

โš–๏ธ 2. FLAT OPENING (within ยฑ100 points of previous close)
If BANKNIFTY opens between 47,950โ€“48,150 range:

๐Ÿ“ Price will be near the middle zone โ€“ 48,085, which is now acting as a pivot for the day.

๐Ÿ”„ Plan here should be range-based trading initially: โœ”๏ธ If price sustains above 48,085, intraday long trades can be attempted targeting
โžค 48,319โ€“48,369 (Initial Resistance)
โžค Beyond that, trail for 48,534

๐Ÿšซ If it rejects from 48,085 and breaks below 48,027, avoid longs and prepare for downside until:
โžค 47,748โ€“47,787 (Green Support Zone)

๐Ÿง  Important Tip: Use option spreads in this zone to benefit from time decay and lower directional bias until breakout confirms.

๐Ÿ”ป 3. GAP-DOWN OPENING (200+ points below previous close)
If BANKNIFTY opens near 47,700 or lower:

๐Ÿ“‰ Prices would be near Opening Support: 47,748โ€“47,787

๐Ÿ” Watch for bullish price action like bullish engulfing, pin bar or consolidation above this zone: โ†’ Go long if it holds and gives reversal signs
๐ŸŽฏ Target: 48,000โ€“48,085 zone

๐Ÿšซ However, if support breaks with a strong red candle, then:

โš ๏ธ Short trade can be initiated with target:
โžค 47,589 (Final Strong Support Zone)

๐Ÿ“‰ Break below 47,589 could lead to panic selling towards 47,400โ€“47,300.

๐Ÿง  Important Tip: Gap-down opens can cause high IV. Use proper hedging (e.g. bear put spreads or long straddle if expecting a reversal) to reduce premium decay.

๐Ÿ›ก๏ธ Risk Management Tips for Options Traders
  1. [] Never trade without a stop-loss. Use a closing-based SL on 15-min candles for directional trades. [] Avoid buying deep OTM options after 12 PM unless a breakout or breakdown is confirmed. [] Use option spreads (Bull Call / Bear Put / Iron Condor) to reduce theta decay impact. [] Avoid overtrading in choppy zones; preserve capital for trending opportunities.
  2. Reduce position size when volatility spikes or premiums are inflated.


๐Ÿ“Œ Summary & Conclusion
โœ… Key Resistance Zones: 48,319โ€“48,369 ๐Ÿ”บ 48,534 ๐Ÿ”บ 48,890
โœ… Key Support Zones: 47,748โ€“47,787 ๐Ÿ”ป 47,589 (critical level)
๐ŸŽฏ Let price action around these zones guide your trade. React, donโ€™t predict!

โš ๏ธ Disclaimer
I am not a SEBI registered analyst. This analysis is shared for educational purposes only. Please do your own research or consult with a financial advisor before making any trading decisions.

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