Finnifty weekly expiry analysis for 12/09/23.
Finnifty has given a close above 20300 levels gaining 167 points higher.
On the hourly charts, the market gave a breakout after consolidating in the second half of the session and is trading above both the moving averages.
Nifty has also touched the 20k levels and now its time for other indices to form new ATH.
Tomorrow is weekly expiry and if the index take a halt it will give pain to the option buyers. It will be wise to trade the dips as the market is of buy on dip.
On 15 minute time frame, there is a support around 20250 which coincides with the 20 ema. It has closed above both the moving averages.
Support :- 20255, 20180
Resistance :- 20360, 20450
Watch the break out and only trade a confirm setup as it will be a weekly expiry.
Wait for the price action near the levels before entering the market.
On the hourly charts, the market gave a breakout after consolidating in the second half of the session and is trading above both the moving averages.
Nifty has also touched the 20k levels and now its time for other indices to form new ATH.
Tomorrow is weekly expiry and if the index take a halt it will give pain to the option buyers. It will be wise to trade the dips as the market is of buy on dip.
On 15 minute time frame, there is a support around 20250 which coincides with the 20 ema. It has closed above both the moving averages.
Support :- 20255, 20180
Resistance :- 20360, 20450
Watch the break out and only trade a confirm setup as it will be a weekly expiry.
Wait for the price action near the levels before entering the market.
