Nifty weekly expiry on BUDGET day (01/02/24).
Tomorrow is nifty weekly expiry and financial budget. There will be much volatility in the market as both the events are on the same day.
Nifty has given a nice move in the first half and consolidated in the second half.
If the market opens flat or slightly lower, after the break out bullish trade can be initiated and heavy quantities should be enter only once it starts trading above 21800.
Major resistance levels :- 21750-810, 21970
Gap filling trade can be made on the break out.
Support for bearish targets :- 21660, 21480, 21250
Watch for the option premiums flactuations as there will be decay and movement at the same time.
Price action near the levels for setup must be watch before entering.
Straddle or strangle may give some profits. Keep a strict loss and target fixed.
Nifty has given a nice move in the first half and consolidated in the second half.
If the market opens flat or slightly lower, after the break out bullish trade can be initiated and heavy quantities should be enter only once it starts trading above 21800.
Major resistance levels :- 21750-810, 21970
Gap filling trade can be made on the break out.
Support for bearish targets :- 21660, 21480, 21250
Watch for the option premiums flactuations as there will be decay and movement at the same time.
Price action near the levels for setup must be watch before entering.
Straddle or strangle may give some profits. Keep a strict loss and target fixed.
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