Technical Analysis of Finnifty for Tomorrow
**Technical Analysis of CNX Finance for Tomorrow (26 September 2023)**
**Support:**
* 19800 (Big Support)
**Resistance:**
* 20000
**Overall Analysis:**
The CNX Finance index is currently trading at 19850, just below the resistance level of 20000. The index has been in a sideways to bearish phase for the past few weeks, and the overall market sentiment is bearish.
However, there is a good chance that the index could move upside tomorrow if it breaks above 20000. The index has strong support at 19800, and there is a lot of put writers at this level. Therefore, if the index breaks above 20000, it could face strong buying pressure.
**Good Points:**
* The index has strong support at 19800.
* There is a lot of put writers at the 19800 level.
* The index could move upside if it breaks above 20000.
**Trading Strategy:**
* **Bullish Traders:** If the CNX Finance index breaks above 20000, bullish traders can enter long positions with a stop loss below 19950.
* **Bearish Traders:** If the CNX Finance index breaks below 19800, bearish traders can enter short positions with a stop loss above 19850.
**Overall, the CNX Finance index is likely to move in a range of 19800-20000 tomorrow. However, there is a good chance that the index could move upside if it breaks above 20000.**
**Disclaimer:** This is just a technical analysis and should not be considered as a trading recommendation. Please consult your financial advisor before making any trading decisions.
**Additional Notes:**
* The CNX Finance index is a basket of stocks of Indian financial companies. The index includes banks, non-banking financial companies (NBFCs), insurance companies, and other financial institutions.
* The index is an important indicator of the performance of the Indian financial sector. A strong performance of the index indicates that the Indian financial sector is healthy and growing.
* Investors who are interested in investing in the Indian financial sector can consider investing in the CNX Finance index ETF.
**Support:**
* 19800 (Big Support)
**Resistance:**
* 20000
**Overall Analysis:**
The CNX Finance index is currently trading at 19850, just below the resistance level of 20000. The index has been in a sideways to bearish phase for the past few weeks, and the overall market sentiment is bearish.
However, there is a good chance that the index could move upside tomorrow if it breaks above 20000. The index has strong support at 19800, and there is a lot of put writers at this level. Therefore, if the index breaks above 20000, it could face strong buying pressure.
**Good Points:**
* The index has strong support at 19800.
* There is a lot of put writers at the 19800 level.
* The index could move upside if it breaks above 20000.
**Trading Strategy:**
* **Bullish Traders:** If the CNX Finance index breaks above 20000, bullish traders can enter long positions with a stop loss below 19950.
* **Bearish Traders:** If the CNX Finance index breaks below 19800, bearish traders can enter short positions with a stop loss above 19850.
**Overall, the CNX Finance index is likely to move in a range of 19800-20000 tomorrow. However, there is a good chance that the index could move upside if it breaks above 20000.**
**Disclaimer:** This is just a technical analysis and should not be considered as a trading recommendation. Please consult your financial advisor before making any trading decisions.
**Additional Notes:**
* The CNX Finance index is a basket of stocks of Indian financial companies. The index includes banks, non-banking financial companies (NBFCs), insurance companies, and other financial institutions.
* The index is an important indicator of the performance of the Indian financial sector. A strong performance of the index indicates that the Indian financial sector is healthy and growing.
* Investors who are interested in investing in the Indian financial sector can consider investing in the CNX Finance index ETF.
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.