25OCt2024 - NIFTY Predictions (Next Trading day)

24 окт.

1. Index Chart and Time Frames
Index: Nifty 50
Date: October 24, 2024
Time Frames:
Weekly (1W)
Daily (1D)
15-minute (15M)
Monthly (1M)

2. Support and Resistance Levels
Support Levels:
Daily: 24,341.20 (recent low)
Weekly: 24,399.40 (current closing)

Resistance Levels:
Daily: 24,480.65 (recent high)
Weekly: 24,978.30 (previous high)

3. Market Scenario for Next Trading Day
Opening Gap Slight Gap Down
Market Sentiment Bearish
Expected Movement Start Bearish, then Range-bound

4. Options Strategies
Recommended Strikes:
Bearish Scenario: Buy 24,300 Puts
Range-bound Strategy: Sell 24,400 Calls and buy 24,500 Calls

5a. Calendar Spread Strategy
Strikes for Calendar Spread:
Daily: 24,400
Weekly: 24,300
Monthly: 24,500

5b. Trends Table
Daily Bearish
Weekly Bearish
Monthly Bullish

6. Trading Recommendations
ATM Trade Morning session
ITM Trade Morning session
OTM Don't Trade All day

Summary
The market is expected to open slightly down and remain bearish initially, with potential for range-bound movement later in the day. Focus on bearish options strategies, particularly around the 24,300 and 24,400 strikes.

Disclaimer: Do Manage your Risk and Money management, Do not Forget to PUT STOP LOSS.