Finnifty weekly expiry analysis for 03/10/23.
Updated
Finnifty on the monthly chart has formed a gravestone doji and formed a double top pattern on the weekly charts.
Index has reversed from the ATH high is yet to created a new all time high.
The market has formed a doji candle on the weekly charts after a 3.8% fall in the previous week.
Market is consolidating in a similar range and has been trading in between both the moving averages on the daily charts.
Tomorrow is weekly expiry, watch for a break out or break down as there are chance of a trend move in the market.
On the hourly charts, it has closed between both the moving averages.
Support :- 19650, 19550
Resistance :- 19890, 20010
Finnifty has been consolidating for few days and there was no movement in the last expiry. There is a possibility of a trending move as market is closed for consecutive 3 days.
Wait for the price action near the levels before entering the market.
Index has reversed from the ATH high is yet to created a new all time high.
The market has formed a doji candle on the weekly charts after a 3.8% fall in the previous week.
Market is consolidating in a similar range and has been trading in between both the moving averages on the daily charts.
Tomorrow is weekly expiry, watch for a break out or break down as there are chance of a trend move in the market.
On the hourly charts, it has closed between both the moving averages.
Support :- 19650, 19550
Resistance :- 19890, 20010
Finnifty has been consolidating for few days and there was no movement in the last expiry. There is a possibility of a trending move as market is closed for consecutive 3 days.
Wait for the price action near the levels before entering the market.
Note
Finnifty after the first hour fall remained in a range and respected the support level of 19650. Today there was no opportunity for option buyers as the market was sluggish and in a sideways mode.
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