PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 26 JUL 2024
26 Jul 2024
WORLD MARKETS
1. All the world markets are looking bearish.
INDIA VIX AND GIFT NIFTY
1. India VIX has shot up to 12.7.
2. GIFT Nifty is indicating a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC Bank has closed above 1611 but closed below 1618.5. Any move above 1620 is bullish. Any break down below 1615 will be bearish.
2. ICICI Bank has resistance at 1200. If it manage to break 1200, it will be bullish. However it can trade between 1590 - 1625.
3. Reliance is in range between 3000 - 2950.
TRADING PLAN
1.NIFTY OPEN BETWEEN 24350 - 24460: No trade.
2.NIFTY OPEN ABOVE 24460: Wait for a consolidation and break above 24530 decisively.
3.NIFTY OPEN BELOW 24350: Sell any rally to 24400.
4. BANK NIFTY OPEN BETWEEN 50775 - 50950: No trade.
5.BANK NIFTY OPEN ABOVE 50950: Wait for a consolidation and break above 51110.
6.BANK NIFTY OPEN BELOW 50775: Wait for a consolidation and break below 50600 decisively. Alternatively Any weakness at 50800 can be sold into.
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. All the world markets are looking bearish.
INDIA VIX AND GIFT NIFTY
1. India VIX has shot up to 12.7.
2. GIFT Nifty is indicating a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC Bank has closed above 1611 but closed below 1618.5. Any move above 1620 is bullish. Any break down below 1615 will be bearish.
2. ICICI Bank has resistance at 1200. If it manage to break 1200, it will be bullish. However it can trade between 1590 - 1625.
3. Reliance is in range between 3000 - 2950.
TRADING PLAN
1.NIFTY OPEN BETWEEN 24350 - 24460: No trade.
2.NIFTY OPEN ABOVE 24460: Wait for a consolidation and break above 24530 decisively.
3.NIFTY OPEN BELOW 24350: Sell any rally to 24400.
4. BANK NIFTY OPEN BETWEEN 50775 - 50950: No trade.
5.BANK NIFTY OPEN ABOVE 50950: Wait for a consolidation and break above 51110.
6.BANK NIFTY OPEN BELOW 50775: Wait for a consolidation and break below 50600 decisively. Alternatively Any weakness at 50800 can be sold into.
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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