My pre market journal for expiry day 20/4/23.
Gap up opening likely around 17650. since the insider candle setup is not broken, the markets may still be range bound. also going by the OI data expiry day closure should be in range of 17600-17650 with trading range in 17450-17750. 17580-85 has been a strong support with the levels being tested on 3 consecutive days and holding
my trade setup :
on gap-up expecting rejection at aroungd17680-17700 levels, short trade 17680 with sl of 17710 for targets of 17650/600/585. if 585 is broken then expect nifty to slide till 17500.
long side can be looked at if nifty again takes support at 17600/585 levels then up side till 17680 is possible.
any 2nd half trade to be done on next expiry as market is likely to be volatile and markets are at present very close to the expected expiry levels
Gap up opening likely around 17650. since the insider candle setup is not broken, the markets may still be range bound. also going by the OI data expiry day closure should be in range of 17600-17650 with trading range in 17450-17750. 17580-85 has been a strong support with the levels being tested on 3 consecutive days and holding
my trade setup :
on gap-up expecting rejection at aroungd17680-17700 levels, short trade 17680 with sl of 17710 for targets of 17650/600/585. if 585 is broken then expect nifty to slide till 17500.
long side can be looked at if nifty again takes support at 17600/585 levels then up side till 17680 is possible.
any 2nd half trade to be done on next expiry as market is likely to be volatile and markets are at present very close to the expected expiry levels