Banknifty weeky expiry analysis for 06/09/23.
Banknifty weekly expiry has changed from thursday to wednesday. Option trades watch the option premium as they will expiry tomorrow.
On the daily charts, market has again tested the 20 ema and has formed an inside candle.
Market again after a gap up opening came for selling and closed 65 points lower.
On the hourly charts, it tested both the moving averages and recover touching the lower one. The market in the second half didn't gave any move and created volatility.
Banknifty has consolidated in a range of 2 trading session and tomorrow being it expiry, it can give a nice move. Be watchful as Indian Vix is still on the lower side trading around 10.
It traded around the 20 ema, on 15 minutes, and closed just above the level.
Support :- 44250-44440, 44100
Resistance :- 44650, 44750, 44910
The big zone on 100 points on the lower side is crucial as it has been giving support to the market. Let the market break this zone, if you wanna go bearish.
Wait for the price action near the levels before entering the market.
On the daily charts, market has again tested the 20 ema and has formed an inside candle.
Market again after a gap up opening came for selling and closed 65 points lower.
On the hourly charts, it tested both the moving averages and recover touching the lower one. The market in the second half didn't gave any move and created volatility.
Banknifty has consolidated in a range of 2 trading session and tomorrow being it expiry, it can give a nice move. Be watchful as Indian Vix is still on the lower side trading around 10.
It traded around the 20 ema, on 15 minutes, and closed just above the level.
Support :- 44250-44440, 44100
Resistance :- 44650, 44750, 44910
The big zone on 100 points on the lower side is crucial as it has been giving support to the market. Let the market break this zone, if you wanna go bearish.
Wait for the price action near the levels before entering the market.
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