The index for last 2 trading session is consolidating in a range between 22350-22480 and is sustaining above the moving averages.
A halt candle has been formed after a gap down opening which signifies that the market may give a trending move in coming days.
The drop in the VIX has killed the option premiums and there was option buyers are waiting for a buying opportunity in the market.
Tomorrow is the monthly expiry for the index and as the market is behaving a move can be seen, if there is a slight gap up/down or a flat opening.
If there is a flat opening and consolidation in the first half, the break out or break down in the second half can give a trending move.
Major Support levels:-22330, 22240
Resistance levels :- 22480, 22610
Market has remained volatile this whole month. For last 3 months dojis can be seen on the charts showing confusion among the market participants.
Wait for the market to clear the trend for positional trades. Price action around the levels should be there for entering a trade.
A halt candle has been formed after a gap down opening which signifies that the market may give a trending move in coming days.
The drop in the VIX has killed the option premiums and there was option buyers are waiting for a buying opportunity in the market.
Tomorrow is the monthly expiry for the index and as the market is behaving a move can be seen, if there is a slight gap up/down or a flat opening.
If there is a flat opening and consolidation in the first half, the break out or break down in the second half can give a trending move.
Major Support levels:-22330, 22240
Resistance levels :- 22480, 22610
Market has remained volatile this whole month. For last 3 months dojis can be seen on the charts showing confusion among the market participants.
Wait for the market to clear the trend for positional trades. Price action around the levels should be there for entering a trade.
