#CNXFINANCE #Finifty - expiry view

Finnifty is trading below budget day low and is going to face resistance around it, however on 45 min tf the structure which is currently developing is suggesting that it may be forming a reversal pattern and anticipation is that inverted H&S pattern is under development. As long as recent swing low is protected it can take support at the trendline which is coming from lower side as support and has already given a falling counter trendline resistance breakout on Friday closing.
As the price gets more and more congested into this zone, possibility of inverted h&s formation and upside breakout may be on higher side.

Overall, the setup is looking good to play some directional buying by Tuesday expiry if it gets matured by that time, keep this setup in watchlist for some expiry special :)

ความคิดเห็น:

So far it did provided good reward and worked out exactly as per expectations