Nifty Bank IndexLong
PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 23 SEP 2024
23 Sep 2024
WORLD MARKETS
1. World Markets are looking mixed with US Markets looking positive while Europe is down by 1.5 %. Asia is looking bullish.
2. Except Fed chair Powell speech and Israel war there are no negative triggers for the market.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 13 indicating bullishness.
2. GIFT NIFTY is indicating a flat start which is good.
INDEX HEAVY WEIGHTS
1. HDFC Bank is very bullish. Its next tgt is 1795 which is its previous high. After it hits this tgt we may see some downside.
2. ICICI Bank is at all time high and is very bullish. No tgt can be set for ATH Stocks.
3. Reliance has resistance at 3000. Post 3000, it may turn bullish.
TRADING PLAN
1.NIFTY OPEN BETWEEN 25790 - 25676: Buy any dip to 25650.
2. NIFTY OPEN ABOVE 25790: Sell any rally to 26000.
3. NIFTY OPEN BELOW 25676: Buy any consolidation and break above 25700.
4. BANK NIFTY OPEN 53512 - 54083: Buy any dip to 53600.
5. BANK NIFTY OPEN ABOVE 54083: Buy any dip to 53700. Alternatively Sell any weakness at 54000.
6. BANK NIIFTY OPEN BELOW 53502: Sell any consolidation between 53700 - 53500 and break below 53500. However if the break out happen above 53700, Buy.
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. World Markets are looking mixed with US Markets looking positive while Europe is down by 1.5 %. Asia is looking bullish.
2. Except Fed chair Powell speech and Israel war there are no negative triggers for the market.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 13 indicating bullishness.
2. GIFT NIFTY is indicating a flat start which is good.
INDEX HEAVY WEIGHTS
1. HDFC Bank is very bullish. Its next tgt is 1795 which is its previous high. After it hits this tgt we may see some downside.
2. ICICI Bank is at all time high and is very bullish. No tgt can be set for ATH Stocks.
3. Reliance has resistance at 3000. Post 3000, it may turn bullish.
TRADING PLAN
1.NIFTY OPEN BETWEEN 25790 - 25676: Buy any dip to 25650.
2. NIFTY OPEN ABOVE 25790: Sell any rally to 26000.
3. NIFTY OPEN BELOW 25676: Buy any consolidation and break above 25700.
4. BANK NIFTY OPEN 53512 - 54083: Buy any dip to 53600.
5. BANK NIFTY OPEN ABOVE 54083: Buy any dip to 53700. Alternatively Sell any weakness at 54000.
6. BANK NIIFTY OPEN BELOW 53502: Sell any consolidation between 53700 - 53500 and break below 53500. However if the break out happen above 53700, Buy.
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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