Finnifty on the daily charts has formed a dojo after a gap up opening and has closed below the 20 ema.
DJI has given a bullish candle closing 400 points higher which gives a bullish move prediction in Indian markets too.
On the hourly charts market has consolidated in a range of 100 points, closing between both the moving averages. Consolidation in done and breakout can give nice target. There is a bullish diverge in RSI indicator too.
Even on 15 minute charts, it has closed between both the moving averages.
Support :- 19970, 19870
Resistance :- 20050-90, 20210
The market has consolidated and bullish trades can be initiated once 20090 levels are crossed.
Watch option premium as there will be time decay due to weekly expiry in FinNifty.
Wait for the price action near the levels before entering the markets.
DJI has given a bullish candle closing 400 points higher which gives a bullish move prediction in Indian markets too.
On the hourly charts market has consolidated in a range of 100 points, closing between both the moving averages. Consolidation in done and breakout can give nice target. There is a bullish diverge in RSI indicator too.
Even on 15 minute charts, it has closed between both the moving averages.
Support :- 19970, 19870
Resistance :- 20050-90, 20210
The market has consolidated and bullish trades can be initiated once 20090 levels are crossed.
Watch option premium as there will be time decay due to weekly expiry in FinNifty.
Wait for the price action near the levels before entering the markets.
