Nifty Expiry Day Trading Strategy

NIFTY Spot View: 29/02/2024

CMP: 21951.15

Moving AVG (EMA) 20 Hour & 40 Hour: 22088 & 22103

Moving AVG (EMA) 20 Day & 40 Day: 21957 & 21732

Support & Downside Range: 21875—21840 zone, 21770--21650 

Resistance & Upside Range: 22020—22090--22145

Short Term Trend Reversal Level: -- 21875—21840 zone.

Trading is a game of patience and this is the reason that we enter at the correct time and exit timely to make a quick profit using our banknifty option tip which gets you profit in any kind of the market by following our guidelines.

Trading View Summary:

•  Intraday trend remains sideways to weak till the time nifty trading below 22020 spot levels.

•  In today's intraday trading session key support to watch is 21875 which is previous swing low and 21840 which is rising trend line support levels.

•  After opening if 21875—21840 manage to hold then ahead of monthly expiry we may see immediate bounce back upside towards minimum 22020 to 22090 & max 22145 spot levels.

•  After opening if 21875—21840 manage to break on 1hr sustain basis then intraday we may see more selling pressure which may lead nifty towards minimum 21770 to max 21650 spot levels.

•  If nifty manage to close below 21875—21840 then one should be highly cautious for their stock holding position and try to manage a risk for time being till then time we get next clarity that uptrend has started

Nifty Closing Guidance for 29/02/2024: CMP 21951.15

• Nifty low probability close should remain at or below 21875—21840 spot levels. 

• Nifty high probability close should remain at or between 22020—22090 spot levels.

• Nifty excellent probability close should remain at or above 22145 spot levels..