FinNifty weekly expiry analysis for 16/04/24.
Finnifty weekly expiry levels
Major support levels :- 21130, 21000
Resistance :- 21330, 21500
The market is looking bearish and chance of a gap down opening is there as the closing is around the day's low.
On the hourly charts, the market is trading between both the moving averages. A support around 200 ema can be seen.
In case of a flat to slight gap down opening, a consolidation in a range and break down in the second half can give a nice trending move this expiry.
Wait for the price action near the levels before entering the market.
Major support levels :- 21130, 21000
Resistance :- 21330, 21500
The market is looking bearish and chance of a gap down opening is there as the closing is around the day's low.
On the hourly charts, the market is trading between both the moving averages. A support around 200 ema can be seen.
In case of a flat to slight gap down opening, a consolidation in a range and break down in the second half can give a nice trending move this expiry.
Wait for the price action near the levels before entering the market.
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