08 Aug ’23 Post Mortem on FinNifty - weekly analysis - neutral !
FinNifty Weekly Analysis
Between the last expiry and today, CNXFINANCE has fallen 219pts ~ 1.08%. The majority of the fall came on 02 and 03 Aug after which we have seen a recovery of 1.9% from the lows.
FinNifty Today Analysis
If you look at today’s 5mts chart, it was a steady upward moving market with a healthy pullback. Even when the index was falling from 10.55 to 11.30 - there was no visible threat in the short term upward bias. Shortly after this fall we had a rally of 104 pts to hit an intraday high of 20120 by 14.25.
The short term stance continues to be neutral with a slight bullish bias because we just cut through a bearish trend line.
Between the last expiry and today, CNXFINANCE has fallen 219pts ~ 1.08%. The majority of the fall came on 02 and 03 Aug after which we have seen a recovery of 1.9% from the lows.
FinNifty Today Analysis
If you look at today’s 5mts chart, it was a steady upward moving market with a healthy pullback. Even when the index was falling from 10.55 to 11.30 - there was no visible threat in the short term upward bias. Shortly after this fall we had a rally of 104 pts to hit an intraday high of 20120 by 14.25.
The short term stance continues to be neutral with a slight bullish bias because we just cut through a bearish trend line.
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