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[] Immediate support lies at 22,510–22,400 (last intraday support). If this holds, a pullback toward 22,764–22,887 could occur.
[] If 22,510 breaks with strong selling pressure, expect further downside toward 22,235–22,156 (buyer’s support zone).
Trade Plan:
️ Buy near 22,510, targeting a pullback to 22,764–22,887. Use a stop-loss below 22,400 to limit risk.
️ Short below 22,510, targeting 22,235–22,156. Place a stop-loss above 22,510 to protect against a quick recovery.
Explanation: A Gap-Down opening indicates panic or profit-taking, but prices can recover if support levels hold. Waiting for confirmation near 22,510 ensures the price isn’t just oversold, while a break below this level confirms bearish momentum for shorting opportunities.
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., 23,138 or 22,510) 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: 22,887 → Target: 23,138–23,300.
️ Bearish Below: 22,764 → Target: 22,510 or 22,235–22,156.
️ No Trade Zone: 22,764–22,887 (Wait for a breakout).
Trade with discipline, follow your plan, and prioritize risk management to navigate the NIFTY 50 market effectively on February 24, 2025.