Nifty Weekly Expiry Tomorrow: 19th September 2024 - What to Expect?
As we approach the weekly expiry for the Nifty 50 on 19th September 2024, the markets are gearing up for what could be a highly volatile session. With mixed technical indicators, the outlook remains cautious but holds potential for upward movement.
Nifty has displayed resilience, with crucial support levels around 25,300-25,200, which could provide a buffer in case of downside pressure. However, resistance around 25,500-25,600 is expected to challenge the bulls. A break above these levels might lead to a rally towards 26,000.
Also Read - HDFC Bank Rallies Amid Nifty Decline: A Strong Performance
The recent US Fed rate cut and its potential impact on global markets also play a role. If the Fed signals concerns about economic growth, it could trigger a shift in sentiment, but if markets react positively, Nifty could see a strong push upwards.
For intraday traders, a wait-and-watch approach might be the best strategy, especially given the increased open interest in call options around 25,500 and 26,000.
Check out this detailed analysis on YouTube for a deeper dive 👇🏻 Below:
Happy Trading!