Technical Analysis of Finnifty for Tomorrow
**Technical Analysis of CNX Finance for Tomorrow (26 September 2023)**
**Support:**
* 19800 (Big Support)
**Resistance:**
* 20000
**Overall Analysis:**
The CNX Finance index is currently trading at 19850, just below the resistance level of 20000. The index has been in a sideways to bearish phase for the past few weeks, and the overall market sentiment is bearish.
However, there is a good chance that the index could move upside tomorrow if it breaks above 20000. The index has strong support at 19800, and there is a lot of put writers at this level. Therefore, if the index breaks above 20000, it could face strong buying pressure.
**Good Points:**
* The index has strong support at 19800.
* There is a lot of put writers at the 19800 level.
* The index could move upside if it breaks above 20000.
**Trading Strategy:**
* **Bullish Traders:** If the CNX Finance index breaks above 20000, bullish traders can enter long positions with a stop loss below 19950.
* **Bearish Traders:** If the CNX Finance index breaks below 19800, bearish traders can enter short positions with a stop loss above 19850.
**Overall, the CNX Finance index is likely to move in a range of 19800-20000 tomorrow. However, there is a good chance that the index could move upside if it breaks above 20000.**
**Disclaimer:** This is just a technical analysis and should not be considered as a trading recommendation. Please consult your financial advisor before making any trading decisions.
**Additional Notes:**
* The CNX Finance index is a basket of stocks of Indian financial companies. The index includes banks, non-banking financial companies (NBFCs), insurance companies, and other financial institutions.
* The index is an important indicator of the performance of the Indian financial sector. A strong performance of the index indicates that the Indian financial sector is healthy and growing.
* Investors who are interested in investing in the Indian financial sector can consider investing in the CNX Finance index ETF.
**Support:**
* 19800 (Big Support)
**Resistance:**
* 20000
**Overall Analysis:**
The CNX Finance index is currently trading at 19850, just below the resistance level of 20000. The index has been in a sideways to bearish phase for the past few weeks, and the overall market sentiment is bearish.
However, there is a good chance that the index could move upside tomorrow if it breaks above 20000. The index has strong support at 19800, and there is a lot of put writers at this level. Therefore, if the index breaks above 20000, it could face strong buying pressure.
**Good Points:**
* The index has strong support at 19800.
* There is a lot of put writers at the 19800 level.
* The index could move upside if it breaks above 20000.
**Trading Strategy:**
* **Bullish Traders:** If the CNX Finance index breaks above 20000, bullish traders can enter long positions with a stop loss below 19950.
* **Bearish Traders:** If the CNX Finance index breaks below 19800, bearish traders can enter short positions with a stop loss above 19850.
**Overall, the CNX Finance index is likely to move in a range of 19800-20000 tomorrow. However, there is a good chance that the index could move upside if it breaks above 20000.**
**Disclaimer:** This is just a technical analysis and should not be considered as a trading recommendation. Please consult your financial advisor before making any trading decisions.
**Additional Notes:**
* The CNX Finance index is a basket of stocks of Indian financial companies. The index includes banks, non-banking financial companies (NBFCs), insurance companies, and other financial institutions.
* The index is an important indicator of the performance of the Indian financial sector. A strong performance of the index indicates that the Indian financial sector is healthy and growing.
* Investors who are interested in investing in the Indian financial sector can consider investing in the CNX Finance index ETF.
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