FinNifty weekly expiry intraday levels 16/01/24.
Finnifty after a gap up opening has continued the up move in the second half and closed 160 points higher.
Hourly close is showing a break out and even the daily candle is showing some bullishness.
If there is a gap up opening, initially there will be some profit book and market will test lower level or today's close.
After the retest, if there is a bullish price action there are high chances of it closing above the ATH.
Major bullish targets :- 21520, 21580-600
It is ATH is around 21630. Tomorrow is its weekly expiry, if it show some consolidation in the first half and starts trading above the level in the second half, there is a high chances of it closing around the day high.
Support levels :- 21420, 21350
Wait for a price action if the market test the support levels, as the market is in consolidation and can reverse from the levels.
Enter the trade only after a proper setup or price action is created.
Hourly close is showing a break out and even the daily candle is showing some bullishness.
If there is a gap up opening, initially there will be some profit book and market will test lower level or today's close.
After the retest, if there is a bullish price action there are high chances of it closing above the ATH.
Major bullish targets :- 21520, 21580-600
It is ATH is around 21630. Tomorrow is its weekly expiry, if it show some consolidation in the first half and starts trading above the level in the second half, there is a high chances of it closing around the day high.
Support levels :- 21420, 21350
Wait for a price action if the market test the support levels, as the market is in consolidation and can reverse from the levels.
Enter the trade only after a proper setup or price action is created.
Trade active:
There is a gap filling trade in it.
Break down is also confirms and a 900 point fall means a lot.
In case of flat opening and then break down of 21500 level, 250 point target can be captured.
Gap up will help market hold, and enter only bearish trade once today's low is breached.
Gap down opening will not give much opportunities.
Target levels :- 21250, 21070
Avoid bullish trades after a huge fall.
Break down is also confirms and a 900 point fall means a lot.
In case of flat opening and then break down of 21500 level, 250 point target can be captured.
Gap up will help market hold, and enter only bearish trade once today's low is breached.
Gap down opening will not give much opportunities.
Target levels :- 21250, 21070
Avoid bullish trades after a huge fall.
