NIFTY : Trading Levels and Plan for 24-Apr-2025

📊 NIFTY Intraday Trading Plan – 24-Apr-2025
Timeframe: 15-minute
Previous Close: 24,300.85

🔍 Key Zones from the Chart:

🟧 No Trade Zone: 24,287 – 24,303

🔴 Last Resistance for Intraday: 24,432

🟥 Resistance for Consolidation Breakout: 24,546

🟨 Immediate Support: 24,237

🟩 Last Intraday Support Zone: 24,128 – 24,166

🟥 Major Breakdown Level: 24,036.55

🟥 Scenario 1: Gap-Up Opening (Above 24,401 – i.e. +100 points)

If Nifty opens above 24,401, it is entering the upper band of the chart near the Last Resistance Zone. This area is sensitive and needs confirmation before aggressive trades.

1. []If price shows rejection near 24,432 (like inverted hammer or bearish engulfing), it signals a mean reversion setup. Traders may short with targets at 24,303 and 24,237.
   []If price sustains above 24,432 and breaks out with volume, Nifty may rally toward 24,546. Wait for 15-min candle close above 24,432 before initiating long trades.
   
2. Avoid longs if price opens with a big green candle directly in the resistance – wait for consolidation or a pullback entry.

💡 Pro Tip: Avoid buying the first candle of a gap-up unless a pullback occurs. Let the bulls prove themselves beyond the resistance.

                                         

🟨 Scenario 2: Flat Opening (Between 24,287 – 24,401)

A flat opening brings Nifty within or around the No Trade Zone. This is a choppy zone due to overlapping candles and indecisiveness in previous sessions.

1. []Avoid trades inside 24,287 – 24,303. Wait for either a breakout above 24,303 or a breakdown below 24,287 for directional clarity.
   []If price breaks above 24,303 and sustains, consider a quick long entry with target 24,432 and SL below 24,280.
   []If price slips below 24,287 and sustains, short setups activate toward 24,237 first, and potentially 24,166 later.
   []This is an ideal day for zone-to-zone scalping, with defined stop losses and profit targets.

💡 Pro Tip: Inside No Trade Zones, avoid impulsive entries. Use breakout-retest strategy or follow momentum confirmation before entering a trade.

                                         

🟩 Scenario 3: Gap-Down Opening (Below 24,200 – i.e. -100 points)

A gap-down below 24,200 puts Nifty directly near Intraday Support Zone (24,128 – 24,166). This area can witness buyer interest, but if it breaks, the trend may shift bearish.

1. []Look for reversal signs in the support zone (24,128 – 24,166). A bullish candle or divergence on RSI can trigger quick scalps toward 24,237.
   []If support fails and price sustains below 24,128, the next major breakdown level is 24,036.55. Short trades below 24,128 can be initiated with SL above 24,170.
   
2. Do not chase gaps down blindly – reversal or breakdown confirmation is crucial.

💡 Pro Tip: Buyer zones offer great reward-to-risk setups. Wait for bullish confirmation like hammer candles, bullish engulfing, or higher low formation before entering.

                                         

🛡️ Risk Management Tips for Options Traders:

1. []✅ Always have a pre-defined SL for both directional and non-directional option strategies.
   []📉 Avoid naked option buying in choppy markets – use spreads (Bull Call / Bear Put) to minimize theta decay.
   []🕐 Don’t hold positions into the last 30 mins of expiry unless you’re in strong profit or have hedged protection.
   []💰 Never risk more than 2% of your capital in a single trade – it keeps your mindset calm and objective.
   
2. 🔄 Adjust your trades as market structure changes – follow price, not your bias.

                                         

📘 Summary & Conclusion:

🟥 Gap-Up: Watch 24,432 as a decision point. Rejections offer shorting opportunity; Breakouts offer bullish setups.

🟨 Flat Open: Avoid trades in 24,287–24,303. Play breakout or breakdown from this zone with confirmation.

🟩 Gap-Down: Support expected near 24,128–24,166. Wait for bullish signs or short below breakdown levels.

🎯 The day should be traded zone-to-zone with proper confirmation. Patience in entries and discipline in exits is key to success. Avoid emotional trading.

⚠️ Disclaimer: I am not a SEBI-registered analyst. This trading plan is shared purely for educational purposes. Please do your own research or consult a qualified advisor before making any trading or investment decisions.