Sensex - Expiry Day Analysis Nov 6

5 thg 11

The price faced resistance at 85k and falling from there inside a descending channel. The daily chart shows that the price is having bearish strength. Channel movement is tricky to trade. Observing how the price is reacting at the channel support/resistance is important to take a trade with conviction.
If the price opens a gap up or above the channel resistance, buy above 83760 with the stop loss of 83640 for the targets 83860, 83980, 84060, 84200 and 84360.
If the price faces resistance at the 83500 to 83600 zone and if it shows bearish strength, sell below 83500 with the stop loss of 83640 for the targets 83400, 83260, 83120, 83020, 82900 and 82780.
Expected expiry day range is 83100 to 83900.
Always do your analysis before taking any trade.

6 thg 11

Ghi chú

The price is testing the channel resistance.

6 thg 11

Ghi chú

Moving along with the channel resistance.