FinNifty monthly expiry analysis for 27/08/2024.
Market slow and steadily is trading in a upward direction but intraday momentum is in a sideways direction.
After the initial 1 hour candle, the market has trading in a 40-50 points range and eaten away option premiums.
Tomorrow is the monthly expiry for the index and there are chances of a trending move as the markets has been trading in a range for last 3-4 trading sessions.
Major resistance levels :- 23440, 23650
Support levels :- 23280, 23030
The market is giving sideways momentum, plan only 2-3 trades in option buying as the Theta will be on the other side and can give losses even if the market is stable.
Wait for the price action near the levels before entering the market.
After the initial 1 hour candle, the market has trading in a 40-50 points range and eaten away option premiums.
Tomorrow is the monthly expiry for the index and there are chances of a trending move as the markets has been trading in a range for last 3-4 trading sessions.
Major resistance levels :- 23440, 23650
Support levels :- 23280, 23030
The market is giving sideways momentum, plan only 2-3 trades in option buying as the Theta will be on the other side and can give losses even if the market is stable.
Wait for the price action near the levels before entering the market.
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