BANKNIFTY : Intraday Trading Levels and Plan for 13-Mar-2025

📘 BANKNIFTY Trading Plan for 13-Mar-2025
Chart Reference: The market is currently placed around 48,055, with defined zones of resistance and support as per the 15-min price action. Based on this, let’s breakdown the plan into different opening scenarios 👇

✅ 1. GAP-UP OPENING (200+ points above previous close)
If BANKNIFTY opens around 48,250–48,400 or higher:

👉 This will place prices near the first key supply zone:
📍 Resistance Zone: 48,319–48,369
🟥 If price opens here, wait for the first 15–30 mins to see if it sustains above the zone.
✅ A strong candle above 48,370 with volume can trigger a long entry for targets:
➤ 48,534 (Last intraday resistance)
➤ 48,890 (Upper Target Zone)

📉 On the flip side, if price fails to sustain this zone and shows rejection with a bearish engulfing or M pattern:
→ Look for shorting opportunities with targets back to 48,085 and even 47,748.

🧠 Important Tip: Avoid rushing into trades at open. Let the first few candles confirm strength or weakness. Use tight SL for long near resistance.

⚖️ 2. FLAT OPENING (within ±100 points of previous close)
If BANKNIFTY opens between 47,950–48,150 range:

📍 Price will be near the middle zone – 48,085, which is now acting as a pivot for the day.

🔄 Plan here should be range-based trading initially: ✔️ If price sustains above 48,085, intraday long trades can be attempted targeting
➤ 48,319–48,369 (Initial Resistance)
➤ Beyond that, trail for 48,534

🚫 If it rejects from 48,085 and breaks below 48,027, avoid longs and prepare for downside until:
➤ 47,748–47,787 (Green Support Zone)

🧠 Important Tip: Use option spreads in this zone to benefit from time decay and lower directional bias until breakout confirms.

🔻 3. GAP-DOWN OPENING (200+ points below previous close)
If BANKNIFTY opens near 47,700 or lower:

📉 Prices would be near Opening Support: 47,748–47,787

🔍 Watch for bullish price action like bullish engulfing, pin bar or consolidation above this zone: → Go long if it holds and gives reversal signs
🎯 Target: 48,000–48,085 zone

🚫 However, if support breaks with a strong red candle, then:

⚠️ Short trade can be initiated with target:
➤ 47,589 (Final Strong Support Zone)

📉 Break below 47,589 could lead to panic selling towards 47,400–47,300.

🧠 Important Tip: Gap-down opens can cause high IV. Use proper hedging (e.g. bear put spreads or long straddle if expecting a reversal) to reduce premium decay.

🛡️ Risk Management Tips for Options Traders

1. [] Never trade without a stop-loss. Use a closing-based SL on 15-min candles for directional trades. [] Avoid buying deep OTM options after 12 PM unless a breakout or breakdown is confirmed. [] Use option spreads (Bull Call / Bear Put / Iron Condor) to reduce theta decay impact. [] Avoid overtrading in choppy zones; preserve capital for trending opportunities.
2. Reduce position size when volatility spikes or premiums are inflated.

📌 Summary & Conclusion
✅ Key Resistance Zones: 48,319–48,369 🔺 48,534 🔺 48,890
✅ Key Support Zones: 47,748–47,787 🔻 47,589 (critical level)
🎯 Let price action around these zones guide your trade. React, don’t predict!

⚠️ Disclaimer
I am not a SEBI registered analyst. This analysis is shared for educational purposes only. Please do your own research or consult with a financial advisor before making any trading decisions.