FinNifty weekly expiry intraday levels for 09/01/24.
FinNifty has closed 220 point lower before the expiry and it can remain in the bearish mood as the daily close just.
It has been respecting a support line and is around the daily 20 ema.
Major support levels :- 21230, 21175, 21000-50
Resistance :- 21380, 21450
RSI on the daily charts is showing a bearish divergence and there are chance of a trend expiry tomorrow.
All the indices are moving in sychronously and after testing the new ATH it has not retraced.
Wait for the break down of the support line and fromation of price action near the levels.
It has been respecting a support line and is around the daily 20 ema.
Major support levels :- 21230, 21175, 21000-50
Resistance :- 21380, 21450
RSI on the daily charts is showing a bearish divergence and there are chance of a trend expiry tomorrow.
All the indices are moving in sychronously and after testing the new ATH it has not retraced.
Wait for the break down of the support line and fromation of price action near the levels.
A good expiry trade in FinNifty today and there are chance of market taking another 100-150 points loss.
Major bearish target :- 21080, 21000
Entry should be initiated below today's low and trailing stop loss can help in driving the winner.
Hourly 200 ema sits around 21080 levels. If market gap down to the levels, consolidate between the range of 21080-160 and breaks down it can give another 100 points downside rally.
Keep a watch on the price action and trade accordingly.