Finnifty weekly expiry analysis for 05/09/23.
Finnifty on the daily charts has given a grave stone doji and closed around 19800 levels.
The market after an initial selling tried to recover and slow regained some points closing only 23 points lower.
On the hourly charts, after the initial hour candle the market consolidated and closed between both the moving averages.
The gap up and gap down are taking a oppportunity. Tomorrow is finnifty weekly expiry and the market have not given a trending market on last few expiries.
On 15 minute charts, it retest the 20 ema and bounced back after the retest. There is also a cup and handle formation.
The market remained volatile and there weren't much opportunity to trade.
Support :- 19760, 19760, 19640
Resistance :- 19800, 19900
Supports are near by and market can reverse from the support. If market open flat and consolidate during the first half, second half break out can give nice profits.
Wait for the price action near the levels before entering the market.
The market after an initial selling tried to recover and slow regained some points closing only 23 points lower.
On the hourly charts, after the initial hour candle the market consolidated and closed between both the moving averages.
The gap up and gap down are taking a oppportunity. Tomorrow is finnifty weekly expiry and the market have not given a trending market on last few expiries.
On 15 minute charts, it retest the 20 ema and bounced back after the retest. There is also a cup and handle formation.
The market remained volatile and there weren't much opportunity to trade.
Support :- 19760, 19760, 19640
Resistance :- 19800, 19900
Supports are near by and market can reverse from the support. If market open flat and consolidate during the first half, second half break out can give nice profits.
Wait for the price action near the levels before entering the market.
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