FinNifty intraday levels for monthly expiry 27/02/24.
FinNifty has remained completely sideways today and is trading in a consolidation range.
On the hourly charts, the market has closed between both the moving averages and might touch the 200 EMA.
In case of a gap down opening, there is probability of market going bearish and testing the lower levels.
Major support level :- 20600, 20480
If there is a slight gap up or flat opening, wait for the market crosses and sustain above the trend line, upper levels can be tested.
Resistance levels :- 20760, 20830
The daily candle is showing some negativity as there is a hanging man candle near the support level.
Tomorrow is the monthly expiry of the index, watch for the option premium and time decay.
If there is a break out/down in the second half of the trading session, a trending move can be seen.
Wait for the price action near the levels before entering the market.
On the hourly charts, the market has closed between both the moving averages and might touch the 200 EMA.
In case of a gap down opening, there is probability of market going bearish and testing the lower levels.
Major support level :- 20600, 20480
If there is a slight gap up or flat opening, wait for the market crosses and sustain above the trend line, upper levels can be tested.
Resistance levels :- 20760, 20830
The daily candle is showing some negativity as there is a hanging man candle near the support level.
Tomorrow is the monthly expiry of the index, watch for the option premium and time decay.
If there is a break out/down in the second half of the trading session, a trending move can be seen.
Wait for the price action near the levels before entering the market.
