PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 26 SEP 2023
26 SEP 2023
WORLD MARKETS
1. World markets are looking neutral to bearish, where the US markets are bearish and Asia is neutral to bearish.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 11 indicating volatility.
2. GIFT Nifty is indicating 21 points uptick @19700 levels.
INDEX HEAVY WEIGHTS
1. HDFC Bank has reistance @ 1540 - 1555. Any break of 1520 is bearish.
2. ICICI Bank has strong resistance @ 962. Any break of 950 is bearish.
3. Relaince has strong resistance @ 2353. Any break of 2333 is bearish.
ANALYSIS
1. Index heavy weights are looking bearish but over sold in 1 Hr.
2. World markets are neutral to bearish.
3. We may see a rangebound market tomorrorw.
TRADING PLAN
1. NIFTY OPEN BETWEEN 19710 - 19640 : Take bullish bet above 19750 and bearish bets below 19600.
2. NIFTY OPEN ABOVE 19750 : Wait for the break out above 19750.
3.NIFTY OPEN BELOW 19640 : Wait for a breakdown below 19600.
4. BANK NIFTY OPEN BETWEEN 44900 - 44600: Wait for a breakout above 45060. Any dip to 44500 and move above 44600 is a buy.
5. BANK NIFTY OPEN ABOVE 44900 : Any dip to 44850 and break out above 44950 is a buy. We can be fully bullish above 45060.
6. BANK NIFTY OPEN BELOW 44600 : Wait for a breakdown below 45500 decisivey.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVISOR FOR ANY TRADE RELATED QUERY. THE AUTHOR IS NOT LIABLE FOR ANY TRADE TAKEN BY THE READER OF THIS ARTICLE.
WORLD MARKETS
1. World markets are looking neutral to bearish, where the US markets are bearish and Asia is neutral to bearish.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 11 indicating volatility.
2. GIFT Nifty is indicating 21 points uptick @19700 levels.
INDEX HEAVY WEIGHTS
1. HDFC Bank has reistance @ 1540 - 1555. Any break of 1520 is bearish.
2. ICICI Bank has strong resistance @ 962. Any break of 950 is bearish.
3. Relaince has strong resistance @ 2353. Any break of 2333 is bearish.
ANALYSIS
1. Index heavy weights are looking bearish but over sold in 1 Hr.
2. World markets are neutral to bearish.
3. We may see a rangebound market tomorrorw.
TRADING PLAN
1. NIFTY OPEN BETWEEN 19710 - 19640 : Take bullish bet above 19750 and bearish bets below 19600.
2. NIFTY OPEN ABOVE 19750 : Wait for the break out above 19750.
3.NIFTY OPEN BELOW 19640 : Wait for a breakdown below 19600.
4. BANK NIFTY OPEN BETWEEN 44900 - 44600: Wait for a breakout above 45060. Any dip to 44500 and move above 44600 is a buy.
5. BANK NIFTY OPEN ABOVE 44900 : Any dip to 44850 and break out above 44950 is a buy. We can be fully bullish above 45060.
6. BANK NIFTY OPEN BELOW 44600 : Wait for a breakdown below 45500 decisivey.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVISOR FOR ANY TRADE RELATED QUERY. THE AUTHOR IS NOT LIABLE FOR ANY TRADE TAKEN BY THE READER OF THIS ARTICLE.
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