19Sep2024 - FIN NIFTY Predictiosn (next trading Day)

18 Sep

Based on your provided FIN Nifty daily and 5-minute time frame charts, here is the specific analysis:

1. Support and Resistance Levels for Next Trading Day:
Support Levels:
24,200: Strong psychological and technical support.
24,100: A more conservative support level in case of a deeper correction.
Resistance Levels:
24,450: Immediate resistance based on today's high.
24,600: Potential resistance if the market remains bullish, as it approaches this round number.

2. Scenario for Next Trading Day:

9:15 - 10:30 Slight Gap Up or Flat Bullish start, likely pushing towards 24,450 resistance

10:30 - 12:30 Continuing Bullish Momentum Potential to breach 24,450, heading towards 24,600

12:30 - 2:30 Possible Pullback to Support Levels Range-bound or slight pullback near 24,300–24,350

2:30 - 3:30 End of Day Movement Depending on volume, a bullish rally to close near 24,450-24,500

3. Effective Options Buying Strategy:
Strikes for Next Trading Day:
Buy 24,300 CE if market opens flat or slight gap up, and if the bullish scenario plays out as expected.
Buy 24,200 PE if there is a sharp reversal around resistance levels (24,450).

Ideal Time to Enter:
For Call Options (CE), enter during the first hour if the market shows strength.
For Put Options (PE), enter around mid-day if a pullback is observed near resistance.

These levels and scenarios are purely based on the chart's technical structure. You can adjust your strategies based on live data to manage risk and optimize gains.

Disclaimer: Do Manager your Risk and Money management, Do not Forget to PUT STOP LOSS.