FinNifty weekly expiry analysis for 03/09/2024.Finnifty has been trading in a rising wedge pattern and is trading around the resistance zone of 23800.
For a while the market is being good for option seller and hitting option buyer hard. If the trend changes and market starts trading below 23680, a bearish trade can be entered with previous supports as targets.
In case the market give a break out of the resistance zone above, a small quantity trade can be initiated.
Major support zone is around 23280 and a quality bearish trade can be entered only once the levels is taken out.
Other levels for intraday trades are 23680, 23600, 23490
Resistance zone :- 23840, 23970
Wait for teh price action near the levels before entering the market.
Keep in mind premium decay will be there as tomorrow is the weekly expiry of the index.
