Nifty Bank IndexLong
PRE MARKET NIFTY AND BANK NIFTY ANALYSIS FOR 08 NOV 2023
08 NOV 2023
WORLD MARKETS
1. US Markets are looking bullish.
2. Europe is neutral with a bearish bias.
GIFT NIFTY AND INDIA VIX
1. Indai VIX is below 12. GIFT Nifty is indicating a flat opening. As such it doest reflect any nifty opening properly.
INDEX HEAVY WEIGHTS
1. HDFC Bank is still looking bearish. It has resistance at 1502. Any decisive break of this will be bullish. Break below 1475 is bearish.
2. ICICI Bank is looking bullish. Any break of 950 will be bullish. However 950 is a strong resistance. Any move below 935 will be bearish.
3. Reliance is neutral with a bullish bias. 2325 is a strong support. while 2350 is a strong resistance.
TRADING PLAN
1. NIFTY OPEN BETWEEN 19420 - 19380 : Any dip to 19350 is a Buy.
2. NIFTY OPEN ABOVE 19440 : Buy any dip to 19400 levels.
3.NIFTY OPEN BELOW 19375 : Sell Below 19320.
4. BANK NIFTY OPEN BETWEEN 43615 - 43880 : Buy any dip to 43600.
5. BANK NIFTY OPEN ABOVE 43890 : Buy any dip to 43700. Any consolidation at 43800 and break out above 43890 is a buy.
6. BANK NIFTY OPEN BELOW 43590: Sell below 43500.
DISCLAIMER
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 TRADETAKEN BY THE READER.
WORLD MARKETS
1. US Markets are looking bullish.
2. Europe is neutral with a bearish bias.
GIFT NIFTY AND INDIA VIX
1. Indai VIX is below 12. GIFT Nifty is indicating a flat opening. As such it doest reflect any nifty opening properly.
INDEX HEAVY WEIGHTS
1. HDFC Bank is still looking bearish. It has resistance at 1502. Any decisive break of this will be bullish. Break below 1475 is bearish.
2. ICICI Bank is looking bullish. Any break of 950 will be bullish. However 950 is a strong resistance. Any move below 935 will be bearish.
3. Reliance is neutral with a bullish bias. 2325 is a strong support. while 2350 is a strong resistance.
TRADING PLAN
1. NIFTY OPEN BETWEEN 19420 - 19380 : Any dip to 19350 is a Buy.
2. NIFTY OPEN ABOVE 19440 : Buy any dip to 19400 levels.
3.NIFTY OPEN BELOW 19375 : Sell Below 19320.
4. BANK NIFTY OPEN BETWEEN 43615 - 43880 : Buy any dip to 43600.
5. BANK NIFTY OPEN ABOVE 43890 : Buy any dip to 43700. Any consolidation at 43800 and break out above 43890 is a buy.
6. BANK NIFTY OPEN BELOW 43590: Sell below 43500.
DISCLAIMER
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 TRADETAKEN BY THE READER.
Disclaimer
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