?? NIFTY Set for Action! Will Bulls Take Charge or Bears Dominate? ????
?? Good Morning.....
NIFTY Recap
Yesterday, NIFTY opened around 25065 with a 52-point gap-up, landing right in our crucial zone ??.
● At the start, support was at 25000 and resistance at 25100 ??.
● As the session progressed, resistance shifted to 25200, sparking a bullish move ??.
● However, as NIFTY tried to cross 25200-25200, it made a move towards support and support attempted to shift upwards to 25100.
● But with call writers aggressively increasing at the 25100 level, NIFTY was pushed back down, touching the 25000 support zone and finally closed near 24981 ??.
?? Today's Outlook
?? NIFTY is likely to open with a GAP UP.
?? As per OPTION CHAIN DATA
?? Support Zones ??
● 1st: 24964 - 24917
● 2nd: 24868 - 24814
● 3rd: 24767 - 24714
● 4th: 24673 - 24614
● 5th: 24567 - 24518
?? Resistance Zones ??
● 1st: 25013 - 25061
● 2nd: 25108 - 25154
● 3rd: 25204 - 25247 (Major)
?? Important Notes
● ?? Monitor Support & Resistance
Keep an eye on the formation and shifting of support and resistance zones throughout the day.
● ?? Call Short Covering Alert
A call short covering rally will be the key to lifting NIFTY beyond the 25250 level.
Watch for signs of short covering to confirm any upside momentum.
●?? Identify the Day’s Trend
Observe the market carefully to identify the day’s trend and trade in line with it.
●?? Define the Day’s Range
Determine the intraday trading range and stick to it for your trades.
●? Patience is Key
If the market is trading within your identified range, wait for it to reach your values before making a move.
●?? Avoid News-Driven Trades
Don’t rush into trades based solely on news. Let the market confirm the move before you act.
●?? Set Stop-Loss (SL)
Never hesitate to set a stop-loss—it will protect your capital in case the trade goes against you.
?? All the Best....