NIFTY : Trading Levels and Plan for 08-May-2025

📊 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:

1. [] 📏 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.
   
2. 🔁 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.