PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 03 JUL 2024
03 JUL 2024
WORLD MARKETS
1. US markets are consolidating and waiting for the FOMC decision and Non farm pay roll.
2. Europe is looking bearish while Asia is looking neutral.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 15 indicating bullishness.
2. GIFT NIFTY is indicating 50 points uptick at 24180 levels. This amount to 52300 levels.
INDEX HEAVY WEIGHTS
1. HDFC Bank has good support at 1720. It may consolidate in the range of 1720 - 1735.
2. ICICI Bank is looking bearish. But it has multiple support at 1175. However there is strong resistance at 1195.
3. Reliance has support at 3100. Any move above 3150 will be bullish.
TRADING ANALYIS
1. Indices may consolidate between 52000 to 52500 levels and 24000 to 24200 levels.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24172-24070 : NO TRADE.
2.NIFTY OPEN 24172: Wait for a consolidation between 24100 -24222 and break above 24230.
3.NIFTY OPEN BELOW 24070 : Wait for a break below 21990.
4.BANK NIFTY OPEN BETWEEN 52423 - 519940 : Sell any rally to 52500 and break below 52400.
5.BANK NIFTY OPEN ABOVE 52430: Wait for consolidation and break above 52600.
6.BANK NIFTY OPEN BELOW 51940 : Sell any rally 52200 and break below 52000.
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. US markets are consolidating and waiting for the FOMC decision and Non farm pay roll.
2. Europe is looking bearish while Asia is looking neutral.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 15 indicating bullishness.
2. GIFT NIFTY is indicating 50 points uptick at 24180 levels. This amount to 52300 levels.
INDEX HEAVY WEIGHTS
1. HDFC Bank has good support at 1720. It may consolidate in the range of 1720 - 1735.
2. ICICI Bank is looking bearish. But it has multiple support at 1175. However there is strong resistance at 1195.
3. Reliance has support at 3100. Any move above 3150 will be bullish.
TRADING ANALYIS
1. Indices may consolidate between 52000 to 52500 levels and 24000 to 24200 levels.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24172-24070 : NO TRADE.
2.NIFTY OPEN 24172: Wait for a consolidation between 24100 -24222 and break above 24230.
3.NIFTY OPEN BELOW 24070 : Wait for a break below 21990.
4.BANK NIFTY OPEN BETWEEN 52423 - 519940 : Sell any rally to 52500 and break below 52400.
5.BANK NIFTY OPEN ABOVE 52430: Wait for consolidation and break above 52600.
6.BANK NIFTY OPEN BELOW 51940 : Sell any rally 52200 and break below 52000.
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.