NIFTY AND BANK NIFTY ANALYSIS FOR 20 JAN 2023
20 Jan 2023
1. US and Europe is in red. today is the second day of pull back.
2. Asia is neutral to bullish.
3. Today market ended range bound as discussed yesterday.
4. HDFC Bank is very bullish on a daily chart. ICICI Bank is trading in a tight range of 850 - 860 and is consolidating before results on 21 Jan.
3. Reliance has again remained neutral to bearish.
4. SGX Nifty is indicating flat start with 13 points up tick @ 18126.
5. This amounts to 50 points uptick to bank nifty @ 42340 levels.
6. Tomorrow Reliance is coming out with result post market hours. So Nifty may remain volatile.
Analysis.
1. India VIX is @13.5 which is very low . we may see increased volatility in future .
2. Bank Nifty is looking bullish due to HDFC twins being bullish.
3. Nifty may remain volatile due to reliance result.
Trade Plan.
1. I remain neutral to bullish on nifty and avoid trading.
2. Bank Nifty is looking bullish. I shall buy 42500 call if Bank nifty sustain above 42370 and show momentum.
3. I shall buy 42000 put if Bank nifty start trading below 42230 levels. TGT 42070
4. 42230 to 42370 is no trading zone for option buyers.
1. US and Europe is in red. today is the second day of pull back.
2. Asia is neutral to bullish.
3. Today market ended range bound as discussed yesterday.
4. HDFC Bank is very bullish on a daily chart. ICICI Bank is trading in a tight range of 850 - 860 and is consolidating before results on 21 Jan.
3. Reliance has again remained neutral to bearish.
4. SGX Nifty is indicating flat start with 13 points up tick @ 18126.
5. This amounts to 50 points uptick to bank nifty @ 42340 levels.
6. Tomorrow Reliance is coming out with result post market hours. So Nifty may remain volatile.
Analysis.
1. India VIX is @13.5 which is very low . we may see increased volatility in future .
2. Bank Nifty is looking bullish due to HDFC twins being bullish.
3. Nifty may remain volatile due to reliance result.
Trade Plan.
1. I remain neutral to bullish on nifty and avoid trading.
2. Bank Nifty is looking bullish. I shall buy 42500 call if Bank nifty sustain above 42370 and show momentum.
3. I shall buy 42000 put if Bank nifty start trading below 42230 levels. TGT 42070
4. 42230 to 42370 is no trading zone for option buyers.
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