Nifty weekly expiry analysis for 10/10/2024

9 oct. 2024

Market has given a nice movement and for two days it remained in a range but is volatile.

There are chance of market either follow the bearish trend or form a 'W' pattern.

Nifty has closed around crucial levels from where it can either reverse the trend or continue falling.

Major support level :- 24760, 24600
Resistance level :- 25210, 25480

The weekly expiry can show a trending move after a break out or break down.

Wait for the price action near the levels before entering the market.

10 oct. 2024

Note

Nifty today remained in a sideways momentum and after the initial volatility it remained flat.

50 ema is giving a good resistance on the daily front while 60 minute charts is trading around the 20 ema.

Possibility of a trend change (bearish trend) will be confirmed if a daily candle starts closing below 24750 level.

For a bullish trend to confirm either market should form a 'W' pattern or start trading above 25500 levels.

Major levels are still intact.

:)