PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 27 FEB 2024
26 FEB 2024
WORLD MARKETS
1. US is consolidating with a positive bias.
2. Europe is bullish and Asia is mixed.
INDIA VIX AND GIFT NIFTY
1. India VIX is above 15 at 15.6 up 4.19%.
2. GIFT Nifty is indicating a 70 point uptick at 22180 level. This amounts to 46700 levels for Bank Nifty.
INDEX HEAVY WEIGHTS
1. HDFC BANK is consolidating with a negative bias. 1410 is a strong support and 1440 strong resistance.
2. ICICI Bank is consolidating with a positive bias.
3. Reliance is bullish. 2950 is still a good support. 2975 is a good resistance.
ANALYSIS
1. Nifty is consolidating between 22300 - 22000 with a positive bias. Any break of this will give us a trending move.
2. Similarly Bank nifty is consolidating between 46500 - 47000 with a negative bias.
2. We may see this range bound move to continue till feb expiry.
TRADING PLAN
1. NIFTY OPEN BETWENN 22088 - 22156 : Sell any rally to 22200 with sl at 22250.
2. NIFTY OPEN ABOVE 22185 : Wait for a consolidation between 22185 - 22250 and decisive break above it.
3.NIFTY OPEN BELOW 22088 : Wait for a break below 22040.
4. BANK NIFTY OPEN BETWEEN 46700 - 46470 : Sell any rally to 46800 and break below 46600.
5.BANK NIFTY OPEN ABOVE 46700 : Wait for a consolidation between 46680 - 46800 and a break out above 46900.
6. BANK NIFTY OPEN BELOW 46460 : Wait for a consolidation between 46500 - 46400 and break below 46370.
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 is consolidating with a positive bias.
2. Europe is bullish and Asia is mixed.
INDIA VIX AND GIFT NIFTY
1. India VIX is above 15 at 15.6 up 4.19%.
2. GIFT Nifty is indicating a 70 point uptick at 22180 level. This amounts to 46700 levels for Bank Nifty.
INDEX HEAVY WEIGHTS
1. HDFC BANK is consolidating with a negative bias. 1410 is a strong support and 1440 strong resistance.
2. ICICI Bank is consolidating with a positive bias.
3. Reliance is bullish. 2950 is still a good support. 2975 is a good resistance.
ANALYSIS
1. Nifty is consolidating between 22300 - 22000 with a positive bias. Any break of this will give us a trending move.
2. Similarly Bank nifty is consolidating between 46500 - 47000 with a negative bias.
2. We may see this range bound move to continue till feb expiry.
TRADING PLAN
1. NIFTY OPEN BETWENN 22088 - 22156 : Sell any rally to 22200 with sl at 22250.
2. NIFTY OPEN ABOVE 22185 : Wait for a consolidation between 22185 - 22250 and decisive break above it.
3.NIFTY OPEN BELOW 22088 : Wait for a break below 22040.
4. BANK NIFTY OPEN BETWEEN 46700 - 46470 : Sell any rally to 46800 and break below 46600.
5.BANK NIFTY OPEN ABOVE 46700 : Wait for a consolidation between 46680 - 46800 and a break out above 46900.
6. BANK NIFTY OPEN BELOW 46460 : Wait for a consolidation between 46500 - 46400 and break below 46370.
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.
Disclaimer
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