FinNifty weekly expiry levels for 06/02/24.
Actualizado
FinNifty is trading in a no trading zone of 21200-21450. It has consolidated today and tomorrow being weekly expiry can give a trending move.
It is trading between both the moving averages on the daily time frame. Watch it take support around 200 ema, a short term bearish trend is confirm.
If the market opens gap up and takes rejection from the upper zone, good R:R ratio trade can be initiated with target of 21200.
In case of a gap down opening, there will be negative signs and position can be created below 21200 support zone.
Major bearish targets :- 20230, 20020
The market is trading in a volatile cycle and giving hard time to option buyers.
Option seller will enjoy the markets as the VIX is high (closing 6.5% higher).
Resistance levels for expiry :- 20450, 21560
Wait for the price action near the levels before entering the market.
It is trading between both the moving averages on the daily time frame. Watch it take support around 200 ema, a short term bearish trend is confirm.
If the market opens gap up and takes rejection from the upper zone, good R:R ratio trade can be initiated with target of 21200.
In case of a gap down opening, there will be negative signs and position can be created below 21200 support zone.
Major bearish targets :- 20230, 20020
The market is trading in a volatile cycle and giving hard time to option buyers.
Option seller will enjoy the markets as the VIX is high (closing 6.5% higher).
Resistance levels for expiry :- 20450, 21560
Wait for the price action near the levels before entering the market.
Nota
It has consolidated on the expiry in a small range of just 150 points.
The market is showing some sideways momentum and is remain in a tight range.
Tomorrow is banknifty expiry and even finnifty can give a break out.
No trading zone :- 20230-20450
Avoid trading in this zone as market is choppy in this zone and taking the Stop losses.
Wait for the price action near the levels.
:)
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