Finnifty weekly expiry analysis of 18/09/23.
Finnifty is trading around the ATH higha and has closed near to the level. The weekly close is quite good for a bullish move as it has closed 393 point higher this week.
It has shown a U-shape recovery on the weekly charts and it might take a halt before creating a new high.
On the daily charts, it has closed 123 points higher and consolidated in a triangle.
Tomorrow is it weekly expiry and there are possibilities of a trending move as the market has consolidated in last trading session.
On 15 minute time frame, market took support from the 20 ema and closed around the level. There are supports near by and the market can reverse from the any support.
It will be wise to keep smaller target on the bearish and bullish side.
Market has stretched alot and there are possibility of market taking a halt or showing some sideways market as previous trading session.
Support :- 20420, 20360
Resistance :- 20560, 20610, 20665(ATH)
Watch for the option premiums as it is expiry tomorrow. If there is break out in the second half it can give good momentum in the premium as well as option charts.
Wait for the price action near the levels before entering the market.
It has shown a U-shape recovery on the weekly charts and it might take a halt before creating a new high.
On the daily charts, it has closed 123 points higher and consolidated in a triangle.
Tomorrow is it weekly expiry and there are possibilities of a trending move as the market has consolidated in last trading session.
On 15 minute time frame, market took support from the 20 ema and closed around the level. There are supports near by and the market can reverse from the any support.
It will be wise to keep smaller target on the bearish and bullish side.
Market has stretched alot and there are possibility of market taking a halt or showing some sideways market as previous trading session.
Support :- 20420, 20360
Resistance :- 20560, 20610, 20665(ATH)
Watch for the option premiums as it is expiry tomorrow. If there is break out in the second half it can give good momentum in the premium as well as option charts.
Wait for the price action near the levels before entering the market.
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