NIFTY MICAP SELECT WEEKLY EXPIRY 15/01/2024

We have a weekly expiry coming up on the index on Monday 15/01/2024. Index has closed at 10542.40. Friday highest traded options on the index were 10600CE and 10500PE which have closed at 12.65 and 15.15. Chart shows 10560.75 as the important level above which we can attempt the previous swing of 10605.45. So futures buying and Call options buying we need to stay above the 10560.75 levels. As this is the price death zone level one need to be cautious.
On the downside 10516.05 is important which squaring the range.
Index will be sideways between 10560.75 to 10650.15. Momentum can be seen above 10650.15 on the upside and below 10516.05 on the downside.
Happy Trading !!!

Comment:

10605 to watch with gap up opening and 10560 as support..
Use all levels on chart for clear understanding then only trade