my premarket analysis for 250723
Nifty is on a downward parallel channel and likely to open gap down below 19650. if the channel is broken and sustained below on 15-minute time frame, we could see a fall till 19560, which appears to be strong support.
Downside support appears to be 19645/19600/560.
As fin nifty expiry is also happening on which the max pain is @20500, with finnifty managing close just above 20500, any sustained candle below 20500 could trigger a run of PE writers leading to further fall, which could lead to nifty touching 19450
I am not seeing much of an upside unless the channel is broken on the upside for 250723.
the likely range is 19720-19550
this is my outlook and not an invite to trade. I am not SEBI registered RA. Please use your own due diligence before investing
Downside support appears to be 19645/19600/560.
As fin nifty expiry is also happening on which the max pain is @20500, with finnifty managing close just above 20500, any sustained candle below 20500 could trigger a run of PE writers leading to further fall, which could lead to nifty touching 19450
I am not seeing much of an upside unless the channel is broken on the upside for 250723.
the likely range is 19720-19550
this is my outlook and not an invite to trade. I am not SEBI registered RA. Please use your own due diligence before investing
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