FinNifty weekly expiry analysis for 09/04/24.
Today the index has tried to clear the high and created a new ATH but couldn't sustain above the levels forming a doji on the dialy charts.
Now the market is in a volatile to bullish stage and there are possibilities of it creating new highs after gap up openings.
It remained in a 100-120 points range on the day before the weekly expiry and previous expiries has also remained silent.
If there is a gap up opening, there will not be much movement in the index and another silent expiry can be seen. Bullish trades can be created for swing trade after the formation of a price action on the charts.]
In case of a gap down opening, important levels can be retested and a bullish pattern formation near the levels can be trade with strict SL and targets.
Major support levels :- 21570, 21480
Flat opening and a break out in the second half can be traded as market can be seen trending after much of sideways movement.
Wait for the price action near the levels before entering the market.
Now the market is in a volatile to bullish stage and there are possibilities of it creating new highs after gap up openings.
It remained in a 100-120 points range on the day before the weekly expiry and previous expiries has also remained silent.
If there is a gap up opening, there will not be much movement in the index and another silent expiry can be seen. Bullish trades can be created for swing trade after the formation of a price action on the charts.]
In case of a gap down opening, important levels can be retested and a bullish pattern formation near the levels can be trade with strict SL and targets.
Major support levels :- 21570, 21480
Flat opening and a break out in the second half can be traded as market can be seen trending after much of sideways movement.
Wait for the price action near the levels before entering the market.
