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Key Levels for the Day:
Resistance Zone: 49,208 – 49,659
Support Zone: 48,918 – 48,600
Profit Booking Zone: 49,579 – 49,659
Scenario 1: Gap-Up Opening (200+ points)
If BANKNIFTY opens with a gap-up above 49,208, we need to observe whether it sustains above this level.
- [] If it holds above 49,208, we can expect an upside movement towards 49,579 – 49,659 (profit booking zone).
[] A breakout above 49,659 can take it towards 50,001, but with caution as profit booking may occur. - In case of rejection from 49,659, look for a shorting opportunity back towards 49,208.
Trade Plan: Buy on dips near 49,208 with SL below 49,100 for a target of 49,579. If rejected from 49,659, initiate a short trade with SL above 49,700.
Scenario 2: Flat Opening (Within 49,039 – 49,208)
- [] If BANKNIFTY consolidates between 49,039 – 49,208, wait for a decisive breakout.
[] A breakout above 49,208 can push prices towards 49,579. - A breakdown below 49,039 will lead to a decline towards 48,918 – 48,600.
Trade Plan: Buy on breakout of 49,208 with SL below 49,100 for targets of 49,579+. If it breaks below 49,039, go short with SL above 49,100 for a target of 48,918.
Scenario 3: Gap-Down Opening (200+ points below 48,918)
- [] If BANKNIFTY opens below 48,918, we need to see if it finds support near 48,600 (last intraday support).
[] A bounce from 48,600 can lead to a recovery towards 48,918. - If 48,600 breaks, expect further downside towards 48,400-48,300.
Trade Plan: Look for a buying opportunity near 48,600 with SL below 48,500 for a potential bounce towards 48,918. If 48,600 breaks, short for a target of 48,400-48,300.
Risk Management Tips for Options Trading
Always maintain a proper stop-loss (SL) to manage risk.
Avoid buying deep OTM options unless you have a high conviction breakout.
For intraday trading, focus on ATM or slightly ITM options for better risk-reward.
If volatility is high, switch to spreads like Bull Call Spread or Bear Put Spread to reduce risk.
Book partial profits as levels are achieved to lock in gains.
Summary & Conclusion
Upside movement expected above 49,208 targeting 49,579-49,659. A rejection here can push prices lower.
Breakdown below 49,039 can take it towards 48,918, with 48,600 being a critical support.
Risk management is key—stick to your stop-loss!
️ Disclaimer: I am not a SEBI-registered analyst. This analysis is for educational purposes only. Please trade at your own risk.