This research is aimed to substantiate the optimally safe direction for mining operations developing in the conditions of shear processes under hydrostatic pressure influence when mining the Zavalivskyi Graphite Deposit. Using a graphical–analytical method, the slope stability index of the Pivdenno–Skhidnyi open-pit walls in the Zavalivskyi deposit and the safe distance for placing mining equipment have been determined. This method involves constructing a calculation scheme for each studied open-pit wall area based on the determined parameters by algebraically adding forces along a curvilinear shear surface, taking into account hydrostatic pressure within a possible collapse prism. During the research, factors have been identified that influence the optimal direction for stripping and mining operations developing under conditions of shear processes caused by flooding of lower horizons at the Zavalivskyi Graphite Plant. It has been revealed that the determining factor when choosing the direction for the development of mining operations is the safety factor of the open-pit working wall, ranging from 0.9 to 2.71 in the studied areas. Moreover, according to current normative documents, this indicator should not be less than 1.3. It has been determined that a promising direction for the development of mining operations in the Pivdenno–Skhidnyi open-pit mine is its south-western, western, and north-eastern areas, with a length of 556 m and a safe size for placing mining equipment of 27.12–32.54 m. Recommendations and measures for conducting mining operations have been developed to ensure the stable condition of the open-pit walls.