Nifty Bank IndexLong
PRE MARKET ANALYSIS FOR NIFTY AND BANK NIFTY FOR 05 DEC 2023
05 Dec 2023
WORLD MARKETS
1. All the World Markets are looking bullish and positive.
2. However Nikkei has turned negative for the short term.
INDIA VIX AND GIFT NIFTY
1. India VIX has reached 13 which is important. Any reversal in the VIX in Future will result into a bull run for the market.
2. GIFT Nifty is indicating 56 points uptick at 20720 levels. This amounts to 46550 levels for Bank Nifty.
INDEX HEAVY WEIGHTS
1. HDFC Bank is at crucial 1603 Mark which is 200 SMA. I feel that there will be some consolidation at this level before it moves higher. 1573 is a very good sp.
2. ICICI Bank is looking at all time high of 1009.
3. Reliance is above 2415 which is a very good sp.
ANALYSIS
1. The RBI rate cycle is peaking out. Similarly the US Fed is also Talking of peaking out in Interest Rate.
2. The RBI in the up coming RBI Meet may keep the Repo rate constant since inflation tgt has not reached the RBI comfort zone.
3. With the election results which has come, the market may see the present govt at centre may come back indicating stability and continuation of govt economic policy.
3. This is a good time to start investing in GOOD STOCKS.
4. However index may pull back in very short term which is quite normal. But Market has turned bullish.
5. It is better to wait for a pull back before going long in indices.
TRADING PLAN
1. NIFTY OPEN BETWEEN 20635 - 20745 : Any dip to 20600 is a Buy.
2.NIFTY OPEN ABOVE 20750 : Wait for a consolidation between 20700 - 20750 for a break out.
3.NIFTY OPEN BELOW 20635 : Wait for a consolidation and break below 20500.
4.BANK NIFTY OPEN BETWEEN 46160 - 46700 : Buy any dip to 46060 - 46100.
5.BANK NIFTY OPEN ABOVE 46700: Wait for a consolidation between 46400 - 46700 and break above 46720. Also Any dip to 46300 and move 46400 is a buy.
6. BANK NIFTY OPEN BELOW 46135 : Wait for a consolidation and break below 45700.
DISCLAIMER
1. I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGSITERED FINANCIAL ANALYST FOR ANY TRADE RELATED QUERY. THE AUTHOR OF THIS ARTICLE HOLDS NO LIABILITY FOR ANY TRADE TAKEN BY THE READER.
WORLD MARKETS
1. All the World Markets are looking bullish and positive.
2. However Nikkei has turned negative for the short term.
INDIA VIX AND GIFT NIFTY
1. India VIX has reached 13 which is important. Any reversal in the VIX in Future will result into a bull run for the market.
2. GIFT Nifty is indicating 56 points uptick at 20720 levels. This amounts to 46550 levels for Bank Nifty.
INDEX HEAVY WEIGHTS
1. HDFC Bank is at crucial 1603 Mark which is 200 SMA. I feel that there will be some consolidation at this level before it moves higher. 1573 is a very good sp.
2. ICICI Bank is looking at all time high of 1009.
3. Reliance is above 2415 which is a very good sp.
ANALYSIS
1. The RBI rate cycle is peaking out. Similarly the US Fed is also Talking of peaking out in Interest Rate.
2. The RBI in the up coming RBI Meet may keep the Repo rate constant since inflation tgt has not reached the RBI comfort zone.
3. With the election results which has come, the market may see the present govt at centre may come back indicating stability and continuation of govt economic policy.
3. This is a good time to start investing in GOOD STOCKS.
4. However index may pull back in very short term which is quite normal. But Market has turned bullish.
5. It is better to wait for a pull back before going long in indices.
TRADING PLAN
1. NIFTY OPEN BETWEEN 20635 - 20745 : Any dip to 20600 is a Buy.
2.NIFTY OPEN ABOVE 20750 : Wait for a consolidation between 20700 - 20750 for a break out.
3.NIFTY OPEN BELOW 20635 : Wait for a consolidation and break below 20500.
4.BANK NIFTY OPEN BETWEEN 46160 - 46700 : Buy any dip to 46060 - 46100.
5.BANK NIFTY OPEN ABOVE 46700: Wait for a consolidation between 46400 - 46700 and break above 46720. Also Any dip to 46300 and move 46400 is a buy.
6. BANK NIFTY OPEN BELOW 46135 : Wait for a consolidation and break below 45700.
DISCLAIMER
1. I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGSITERED FINANCIAL ANALYST FOR ANY TRADE RELATED QUERY. THE AUTHOR OF THIS ARTICLE HOLDS NO LIABILITY FOR ANY TRADE TAKEN BY THE READER.
Disclaimer
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