Nifty weekly expiry analysis for 02/01/2025.
Tomorrow is nifty first weekly expiry of the year.
A consolidation is going on in the index and today also it closed in a range.
If there is break out of the trendline on the upper side, chances of market retesting 24k levels are high.
In case of a fail and market trading downside, a trend downside possibilities are there.
20-EMA and 50-EMA are acting as a resistance and once cleared higher EMAs can be tested.
Option buyer be cautious of the expiry premium decay. Only trade the momentum.
Major levels
Upper resistance :- 24850, 24080
Lower support :- 23550, 23330.
A consolidation is going on in the index and today also it closed in a range.
If there is break out of the trendline on the upper side, chances of market retesting 24k levels are high.
In case of a fail and market trading downside, a trend downside possibilities are there.
20-EMA and 50-EMA are acting as a resistance and once cleared higher EMAs can be tested.
Option buyer be cautious of the expiry premium decay. Only trade the momentum.
Major levels
Upper resistance :- 24850, 24080
Lower support :- 23550, 23330.
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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.
Related publications
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.