Finnifty weekly expiry analysis for 10/10/23.
Finnifty has closed more than 1.1% lower on the daily charts but it took support around the major support levls of 43800.
There are chance of a trending market as it is weekly expiry of finance index.
For last 2 weeks there were no trend expiry of the 2 finance indices. So there is much possibility of market giving a trend move.
On 15 minutes charts, it has closed below both the moving averages. 20 ema is providing market a resistance and it has been retested.
The RSI indicator is showing a bullish divergence. The Indian market are strong but due to the global news there was a gap down opening.
Support :- 19560, 19450
Resistance :- 19670, 19740
Watch for the time decay in the option premium as weekly expiry will eat way premium on the buyer side.
Wait for the price action near the levels before entering the market.
There are chance of a trending market as it is weekly expiry of finance index.
For last 2 weeks there were no trend expiry of the 2 finance indices. So there is much possibility of market giving a trend move.
On 15 minutes charts, it has closed below both the moving averages. 20 ema is providing market a resistance and it has been retested.
The RSI indicator is showing a bullish divergence. The Indian market are strong but due to the global news there was a gap down opening.
Support :- 19560, 19450
Resistance :- 19670, 19740
Watch for the time decay in the option premium as weekly expiry will eat way premium on the buyer side.
Wait for the price action near the levels before entering the market.
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