FINNIFTY1! // level // 1d

2 Okt

Nifty Financial Services Index, you can follow this approach:

Support Levels
Recent Lows: Identify significant low points over the past few weeks or months. For example, if FINNIFTY recently dropped to around 18,500, that could be a support level.
Moving Averages: Check the 50-day and 200-day moving averages, which can act as dynamic support levels.
Previous Support Areas: Historical price levels where the index has bounced back can also indicate support.
Resistance Levels
Recent Highs: Determine the highest points in recent trading sessions. If FINNIFTY peaked at around 19,000, that might serve as a resistance level.
Trend Lines: Draw trend lines across recent highs to visualize potential resistance areas.
Psychological Levels: Round numbers, like 19,000 or 19,500, often act as resistance.
Example Analysis (Hypothetical)
Support Level: 18,500 (recent low)
Resistance Level: 19,000 (recent high)