PRE MARKET ANALYSIS FOR NIFTY AND BANK NIFTY FOR 13 OCT 2023
13 OCT 2023
WORLD MARKETS
1. US markets are looking neutral to bullish. Europe is mixed. Asia looking bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 11. GIFT Nifty is indicating 126 points down tick at 19570 levels. This amounts to 44300 levels for bank nifty. This looks a bit far fetched. May be due to FII selling happening continuously or market may be consolidating before the index heavy weight HDFC Bank result on saturday.
2. we have to see how far isreal conflict escalate.
INDEX HEAVY WEIGHTS
1. HDFC Bank is looking bullish. 1555 is a strong resistance. Next resistance is at 1568. 1540 is a good sp. Any break below 1538 will be bearish.
2.ICICIC Bank is consolidating with a bullish bias. 955 is a strong resistance. Break of 955 is bullish for a tgt of 970. 948 is a strong sp. Break of 948 is bearish.
3. Relaince has turned bullish. Next tgt is 2387. 2328 is a strong sp. Beak of it will be 2300.
TRADING PLAN
1.NIFTY OPEN BETWEEN 19810 - 197775 : Noaction to be taken.
2.NIFTY OPEN ABOVE 19810 : Wait for a break out above 19850.
3. NIFTY OPEN BELOW 19775: Wait for break down below 19750.
4. BANK NIFTY OPEN BETWEEN 44650 - 44550 : No action.
5.BANK NIFTY OPEN ABOVE 44650 : Wait for a break above 44700.
6. BANK NIFTY OPEN BELOW 44550 : Wait for a break below 44400.
7.BANK NIFTY OPEN BELOW 44300 : Sell Any rally to 44500.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR INFORMATION PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVIOSR FOR ANY TRADE RELATED QUERY. THE AUTHOR IS NOT LIABLE FOR ANY TRADE TAKEN BY THE READER.
WORLD MARKETS
1. US markets are looking neutral to bullish. Europe is mixed. Asia looking bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 11. GIFT Nifty is indicating 126 points down tick at 19570 levels. This amounts to 44300 levels for bank nifty. This looks a bit far fetched. May be due to FII selling happening continuously or market may be consolidating before the index heavy weight HDFC Bank result on saturday.
2. we have to see how far isreal conflict escalate.
INDEX HEAVY WEIGHTS
1. HDFC Bank is looking bullish. 1555 is a strong resistance. Next resistance is at 1568. 1540 is a good sp. Any break below 1538 will be bearish.
2.ICICIC Bank is consolidating with a bullish bias. 955 is a strong resistance. Break of 955 is bullish for a tgt of 970. 948 is a strong sp. Break of 948 is bearish.
3. Relaince has turned bullish. Next tgt is 2387. 2328 is a strong sp. Beak of it will be 2300.
TRADING PLAN
1.NIFTY OPEN BETWEEN 19810 - 197775 : Noaction to be taken.
2.NIFTY OPEN ABOVE 19810 : Wait for a break out above 19850.
3. NIFTY OPEN BELOW 19775: Wait for break down below 19750.
4. BANK NIFTY OPEN BETWEEN 44650 - 44550 : No action.
5.BANK NIFTY OPEN ABOVE 44650 : Wait for a break above 44700.
6. BANK NIFTY OPEN BELOW 44550 : Wait for a break below 44400.
7.BANK NIFTY OPEN BELOW 44300 : Sell Any rally to 44500.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR INFORMATION PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVIOSR FOR ANY TRADE RELATED QUERY. THE AUTHOR IS NOT LIABLE FOR ANY TRADE TAKEN BY THE READER.
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