PRE MARKET ANALYSIS FOR NIFTY AND BANK NIFTY FOR 12 JUN 2023
12 Jun 2023
1. World Markets are looking neutral to bullish. US and Asia is looking bullish while Europe is neutral to bearish.
SGX NIFTY AND INDIA VIX
1. India VIX is below 12 indicating less volatility. SGX Nifty is indicating 52 points uptick at 18665. This amounts to 120 points uptick for bank nifty at 43130 levels.
INDEX HEAVY WEIGHTS
1. HDFC Bank is looking neutral to bearish. If it open above 1615 and consolidate, it can move up to 1626. If open below 1607 and break 1604, then we can see 1595. If it opens flat, then it may get range bound.
2. ICICI bank is finding support at 935 levels. Any open below of 932 will get us 923. Any open above 943 will give us 947 -950.
3. Reliance if it gap open at 2498 and consolidate , then we can see 2516. However if Reliance open flat or gap down below 2471, it will be a sell for a tgt of 2450.
Analysis
1. US fed Inflation rate is on Tuesday which will have an impact on wed. Also US fed interest rate decision is on wed which will have an impact on us on Thu.
2. Also The Bank Nifty expiry has shifted to FRIDAY from this expiry onwards.
2. With this information in hand, market may remain range bound for a day or two.
3. I remain neutral to bearish for the next 2 days.
TRADING PLAN
1. If Nifty gap open above 18630, then we can see 18700. However any flat opening will be a sell if it drifts below 18497 for a tgt of 18435. Also Any rally and subsequent rejection at 18600 can be sold into for a tgt of 18500.
2. Bank Nifty If it gap open above 43200 and sustain above 43150, then we can see 43450. However if bank nifty open flat and break 43900, then we can see 43700. If Bank Nifty gap up and cannot sustain 44050, then we can selll for a tgt of 43900 - 43700.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVISOR FOR ANY TRADE RELATED QUERIES.
1. World Markets are looking neutral to bullish. US and Asia is looking bullish while Europe is neutral to bearish.
SGX NIFTY AND INDIA VIX
1. India VIX is below 12 indicating less volatility. SGX Nifty is indicating 52 points uptick at 18665. This amounts to 120 points uptick for bank nifty at 43130 levels.
INDEX HEAVY WEIGHTS
1. HDFC Bank is looking neutral to bearish. If it open above 1615 and consolidate, it can move up to 1626. If open below 1607 and break 1604, then we can see 1595. If it opens flat, then it may get range bound.
2. ICICI bank is finding support at 935 levels. Any open below of 932 will get us 923. Any open above 943 will give us 947 -950.
3. Reliance if it gap open at 2498 and consolidate , then we can see 2516. However if Reliance open flat or gap down below 2471, it will be a sell for a tgt of 2450.
Analysis
1. US fed Inflation rate is on Tuesday which will have an impact on wed. Also US fed interest rate decision is on wed which will have an impact on us on Thu.
2. Also The Bank Nifty expiry has shifted to FRIDAY from this expiry onwards.
2. With this information in hand, market may remain range bound for a day or two.
3. I remain neutral to bearish for the next 2 days.
TRADING PLAN
1. If Nifty gap open above 18630, then we can see 18700. However any flat opening will be a sell if it drifts below 18497 for a tgt of 18435. Also Any rally and subsequent rejection at 18600 can be sold into for a tgt of 18500.
2. Bank Nifty If it gap open above 43200 and sustain above 43150, then we can see 43450. However if bank nifty open flat and break 43900, then we can see 43700. If Bank Nifty gap up and cannot sustain 44050, then we can selll for a tgt of 43900 - 43700.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVISOR FOR ANY TRADE RELATED QUERIES.