Finnifty - Oct 31

Oct 30, 2023

Price gave good move today and now it is forming a channel pattern.
Break out can be in any direction.

Support zone - 19000 - 19020.

Resistance zone - 19290 - 19320.

If price sustains the resistance then it will move to 19360, 19400 and 19460.

If the price is unable to move above resistance, then it will fall towards 19220, 19180, 19140 and 19060.

Trade with care if the price did not show the trend direction.

Based on the assumption that price will react at support/resistance.

Always do your own research. This analysis is for educational purpose only.

Oct 31, 2023

Note

Gap up.

Oct 31, 2023

Note

Bearish and will test the upper trend line of the channel.

Oct 31, 2023

Note

Trend line tested.