🟢 Nifty Analysis EOD – 17th April 2025 🔴
Weekly Expiry Surprise – A One-Sided Short Covering Rally!
📌 Market Background
Before jumping into today’s rally, let’s briefly revisit yesterday’s analysis:
“Tomorrow’s weekly expiry + a holiday on Friday = high chance of a rangebound expiry day. Even if we get a gap-up due to global cues or news, I’m not expecting a breach above 23,500.”
This view was based on the recent expiry behavior and range contraction, especially with the past two days showing just a 170-point range and the last 10 expiries averaging a 192-point intraday range.
But today, the market did what it does best – surprised everyone!
📌 Today’s Price Action
Nifty gave a one-sided, mind-blowing short-covering rally on the weekly expiry day.
IB High + PDH Breakout triggered a sharp move early in the session.
Sustained price action above 23,550 in the morning session activated aggressive short covering.
This momentum carried Nifty all the way to an intraday high of 23,872.
Closing at 23,852, Nifty registered a new swing breakout, moving above its previous highest swing close.
📊 Intraday Movement Stats
Total movement: 574 points 🔥
Nifty: +414 points (+1.77%)
Bank Nifty: +1172 points (+2.21%)
Nifty 500: +277 points (+1.3%)
Midcap: +312 points (+0.60%)
Smallcap: +61 points (+0.37%)
📌 Key Observations
Bank Nifty is now just 177 points away from its All-Time High closing.
Smallcap and Midcap underperformance suggests today’s rally was index-heavy – many portfolios might not reflect the same gains as Nifty.
📉 So, What’s Next at 23,850?
Honestly… don’t know!
Will it push to 24,050?
Or take a pause and pull back for a retracement?
With Friday being a holiday, we’ll have to wait until Monday for clarity.
📌 Important Levels to Watch
🔼 Resistance Zones
23,950 ~ 24,000
24,050
24,190 ~ 24,225
🔽 Support Zones
23,820
23,660 ~ 23,710
23,500
23,400 ~ 23,430
23,340
23,200 ~ 23,190
🧠 Strategy Insight
Don’t chase. Watch price action around 23,820–23,950.
Be flexible. Don’t marry a bias. Let Monday’s opening structure guide your next move.
Weekly Expiry Surprise – A One-Sided Short Covering Rally!
📌 Market Background
Before jumping into today’s rally, let’s briefly revisit yesterday’s analysis:
“Tomorrow’s weekly expiry + a holiday on Friday = high chance of a rangebound expiry day. Even if we get a gap-up due to global cues or news, I’m not expecting a breach above 23,500.”
This view was based on the recent expiry behavior and range contraction, especially with the past two days showing just a 170-point range and the last 10 expiries averaging a 192-point intraday range.
But today, the market did what it does best – surprised everyone!
📌 Today’s Price Action
Nifty gave a one-sided, mind-blowing short-covering rally on the weekly expiry day.
IB High + PDH Breakout triggered a sharp move early in the session.
Sustained price action above 23,550 in the morning session activated aggressive short covering.
This momentum carried Nifty all the way to an intraday high of 23,872.
Closing at 23,852, Nifty registered a new swing breakout, moving above its previous highest swing close.
📊 Intraday Movement Stats
Total movement: 574 points 🔥
Nifty: +414 points (+1.77%)
Bank Nifty: +1172 points (+2.21%)
Nifty 500: +277 points (+1.3%)
Midcap: +312 points (+0.60%)
Smallcap: +61 points (+0.37%)
📌 Key Observations
Bank Nifty is now just 177 points away from its All-Time High closing.
Smallcap and Midcap underperformance suggests today’s rally was index-heavy – many portfolios might not reflect the same gains as Nifty.
📉 So, What’s Next at 23,850?
Honestly… don’t know!
Will it push to 24,050?
Or take a pause and pull back for a retracement?
With Friday being a holiday, we’ll have to wait until Monday for clarity.
📌 Important Levels to Watch
🔼 Resistance Zones
23,950 ~ 24,000
24,050
24,190 ~ 24,225
🔽 Support Zones
23,820
23,660 ~ 23,710
23,500
23,400 ~ 23,430
23,340
23,200 ~ 23,190
🧠 Strategy Insight
Don’t chase. Watch price action around 23,820–23,950.
Be flexible. Don’t marry a bias. Let Monday’s opening structure guide your next move.
Read my blogs here:
substack.com/@kzatakia
Follow me on Telegram:
t.me/swingtraderhub
Follow me on X:
x.com/kzatakia
substack.com/@kzatakia
Follow me on Telegram:
t.me/swingtraderhub
Follow me on X:
x.com/kzatakia
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這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。
Read my blogs here:
substack.com/@kzatakia
Follow me on Telegram:
t.me/swingtraderhub
Follow me on X:
x.com/kzatakia
substack.com/@kzatakia
Follow me on Telegram:
t.me/swingtraderhub
Follow me on X:
x.com/kzatakia
免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。