Search
Products
Community
Markets
News
Brokers
More
IN
Get started
Community
/
Ideas
/
FinNifty analysis for weekly expiry 06/08/2024.
Nifty Financial Services Index
FinNifty analysis for weekly expiry 06/08/2024.
By Mambotrade
Follow
Follow
Aug 5
0
Aug 5
Finnifty on the daily chart has given a nice fall of 600 points after a gap down opening.
The index has taken support from 38.2% levels and retested the previous support zone (now acting as resistance zone during the closing hour).
If there is a gap down opening below today's low, wait for market to recover and tilt again for the entry.
In case of a gap up opening, chance of a sideways/ halt markets are more and option premiums may decay.
Option premiums are high as the vix has climbed upto 20 levels gaining 42%.
The market are looking bearish and if it wait to recover it has to create a base or take a halt before recover. Sell on rise is the market for now.
Major support levels :- 23630, 23540, 23430
Resistance :- 23835, 23000
Wait for the price action near the levels before entering the markets.
BANKNIFTY
Candlestick Analysis
finnifty
finniftyanalysis
finniftyintradatradesetup
finniftykeytradinglevels
finniftylevels
finniftytargets
nifty50
Support and Resistance
Mambotrade
Follow
Also on:
Related publications
FinNifty weekly expiry analysis for 18/06/2024.
by Mambotrade
Finnifty weekly expiry and Budget day intraday levels (23/07/24)
by Mambotrade
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the
Terms of Use
.