Nifty weekly expiry analysis for 16/01/2025
For last 2 trading session nifty is consolidating in a box, while banknifty is moving 400-500 points in intraday and tomorrow is it's weekly expiry.
If the market starts trading outside the box, there is high probability of forming a trending day for the index.
Market had respected the round number support of 23k. It can either retest the support or even breach the recent low to test the support trendline.
Major levels (for intraday)
Support :- 23135, 23000
Resistance :- 23285, 23380
Wait and watch the price action for confirming the direction and intensity of the move.
If the market starts trading outside the box, there is high probability of forming a trending day for the index.
Market had respected the round number support of 23k. It can either retest the support or even breach the recent low to test the support trendline.
Major levels (for intraday)
Support :- 23135, 23000
Resistance :- 23285, 23380
Wait and watch the price action for confirming the direction and intensity of the move.
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