Nifty Option Day Trading Guide for 02 May 2023

30 kwi 2023

Nifty future and Option Trading Plan for Next trading Day

Nifty key Support levels where the nifty has previously Reacted

S1 - 18010
S2 - 17941
S3 - 17824
S4 - 17745
S5 - 17669

Nifty key Resistance levels where the nifty has previously Reacted

R1 - 18083
R2 - 18185
R3 - 18298
R4 - 18445

Nifty Trend Signal From Open Interest Analysis
PCR ratio as per Option Chain Analysis – 0.97 ( BULLISH )
Max Pain As per Option Chain Analysis (Nifty expiry target ) – 18200
Major Resistance as Per Nifty Open Interest Analysis – 18200
Major Support as Per Nifty Open Interest Analysis – 18000


How to Trade in Nifty option or Future with low risk and High Reward

Nify Showing Bullish trend from
In Next Trading Session if Nifty Open Gap up above 18082 wait to restest 18082 level and after restest buy CALL 18050
In Next Trading Session If Nifty Open Gap Down near 18000 wait for retest 18082 Levels if not cross then buy PUT 18050
In Next Trading Session If Nifty Open Gap Down Below 18000 then for Long wait till 17950 if Sustain then buy call 17950
For Above All Condition Stoploss is 15 min Candle Close Below Support or Max 15/20 points
For Long Trade Target is Next resistance levels R1 , R2 , R3
For Short trade Target is Next Support levels S1 , S2 , S3


In Nifty Trading Strategy Importent Points

Remember that Day Trading can be challenging and requires discipline, patience, and a lot of hard work. It’s important to develop a solid trading plan and stick to it, even when emotions are high.
Keep a trading journal: Record all of your trades in a trading journal. This helps you to analyze your performance, identify patterns, and make improvements to your trading strategy.
Manage your risk: Day trading is risky, so it’s important to manage your risk. This includes using proper position sizing, setting stop-loss orders, and avoiding overtrading
Use stop-loss orders: Set stop-loss orders to limit your potential losses. This helps you to exit a trade if the market moves against you
Before you start trading, have a well-defined plan that includes your trading strategy, risk management plan, and profit targets. Stick to your plan and don’t let emotions dictate your trades.