Finnifty weekly expiry and Budget day intraday levels (23/07/24)
Tomorrow it the budget day and the markets today closed in a neutral scenario, forming doji on the daily charts.
Option premiums are inflated and the VIX closed gaining 4%.
On 15 minutes time frame, the market has given a lower low formation and retraced back to 61.8% fib levels.
If the market starts trading below 23500, good crack down can be seen upto 23410 and can travel to hit lower support zone around 23320.
In case of a break out of today's high (23720), bulish trade can be entered with a strict stop loss and target of 23840.
Major support zone :- 23590, 23410, 23320
Resistance levels :- 23720, 23840
Wait for the price action and a good momentum for buying the options, as there will be a good time decay in the premiums.
Option premiums are inflated and the VIX closed gaining 4%.
On 15 minutes time frame, the market has given a lower low formation and retraced back to 61.8% fib levels.
If the market starts trading below 23500, good crack down can be seen upto 23410 and can travel to hit lower support zone around 23320.
In case of a break out of today's high (23720), bulish trade can be entered with a strict stop loss and target of 23840.
Major support zone :- 23590, 23410, 23320
Resistance levels :- 23720, 23840
Wait for the price action and a good momentum for buying the options, as there will be a good time decay in the premiums.
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