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[] Immediate support lies at 48,641–48,000 (last intraday support and initial sideways support). If this holds, a pullback toward 49,022–49,254 could occur.
[] If 48,641 breaks with strong selling pressure, expect further downside toward 47,363–47,578 (buyer’s support for a possible reversal).
Trade Plan:
️ Buy near 48,641, targeting a pullback to 49,022–49,254. Use a stop-loss below 48,000 to limit risk.
️ Short below 48,641, targeting 47,363–47,578. Place a stop-loss above 48,641 to protect against a quick recovery.
Explanation: A Gap-Down opening of 200+ points indicates panic or profit-taking, but prices can rebound if support levels hold. Waiting for confirmation near 48,641 ensures the price isn’t just oversold, while a break below this level confirms bearish momentum for shorting opportunities. The 47,363–47,578 zone offers a potential reversal point if buying interest emerges.
Risk Management Tips for Options Trading
Always Use a Strict Stop-Loss: Protect your capital by setting stop-loss orders at key support/resistance levels to limit potential losses.
Take Partial Profits: Lock in gains at intermediate targets (e.g., 49,813 or 48,641) to secure profits while allowing room for further moves.
️ Avoid Overtrading: Stick to the plan and wait for clear price action confirmation—don’t force trades in uncertain conditions.
Use Proper Position Sizing: Risk only a small percentage of your capital (e.g., 1–2%) per trade to ensure longevity in the market.
Summary & Conclusion
️ Bullish Above: 49,254 → Target: 49,813–49,922.
️ Bearish Below: 49,022 → Target: 48,641 or 47,363–47,578.
️ No Trade Zone: 49,022–49,254 (Wait for a breakout).
Trade with discipline, follow your plan, and prioritize risk management to navigate the BANKNIFTY market effectively on February 24, 2025.
️ Disclaimer
I am not a SEBI-registered analyst. This analysis is for educational purposes only. Please consult your financial advisor before making any trading decisions.