Gap up Opening above 22500:
Buy if prices sustain above 22475 and trade above 22511 after opening, targeting 22561 – 22642.
Short if prices face rejection at 22511 and trade below 22475, aiming for 22400 - 22393 – 22333 – 22315.
No trade between 22475 – 22511.
Flat Opening:
Buy if price sustains at 22400 and trades higher above 22450, targeting 22500 – 22511 - 22561 with a stop loss at 22380.
Short if price trades below 22392, with targets at 22333 - 22315 - 22300 and a stop loss at 22415.
Extended drop expected to 22234 if prices trade below 22300.
Gap Down Opening below 22300:
Buy if prices start trading above 22333 with the first 15-minute candle, targeting 22392 - 22400.
Short trade if prices face rejection near 22400-22392 for a retracement move, targeting 22300 – 22280.
Short if prices face rejection at 22333 after gap down opening, targeting 22234-22208.
Conclusion:
The trading plan for NIFTY on 25-Apr-2024 suggests buying opportunities if the index sustains above key support levels, with targets set for upward momentum. Short trades are recommended in case of rejection at resistance levels or during extended drops, with specific target levels provided for profit-taking.
Disclaimer:
Trading in financial markets involves risk, and the provided plan is for informational purposes only. It's essential to conduct thorough analysis and consider individual risk tolerance before executing any trades. The plan does not guarantee profits, and traders should exercise caution and implement proper risk management strategies.