PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 28 JUN 2024
28 Jun 2024
WORLD MARKETS
1.US markets are looking bullish.while Europe is mixed and Asia is looking bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 14 indicating more bullishness.
2. GIFT Nifty is indicating a 40 points uptick at 24080.
INDEX HEAVY WEIGHT
1. HDFC Bank is in a range of 1690 to 1710. Any break of this will give direction to Indices.
2.ICICI Bank has support at 1210.
3. Reliance is very bullish. 3050 - 3070 is the range. Any break of this range will give direction to Nifty.
4. IT has turned bullish. So Nifty may continue its uptrend if Bank Nifty and Reliance remain neutral to mildly bullish.
TRADING PLAN
1. NIFTY OPEN BETWEEN 23920 - 24080 : Buy any dip to 23920 levels.
2.NIFTY OPEN ABOVE 24080: Wait for a dip to 23900 and consolidation and buy the break out above 24000.
3.NIFTY OPEN BELOW 23920: Wait for a consolidation and break below 23800 decisively.
4.BANK NIFTY OPEN BETWEEN 52650 - 52950 LEVELS. NO TRADE.
5. BANK NIFTY OPEN ABOVE 52950 LEVELS. Wait for a consolidation between 52850 - 53100 and buy any break out.
6.BANK NIFTY OPEN BELOW 52650: Buy any consolidation and break below 52500 decisively. However any move above 52900 will again turn bank nifty bullish.
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 markets are looking bullish.while Europe is mixed and Asia is looking bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 14 indicating more bullishness.
2. GIFT Nifty is indicating a 40 points uptick at 24080.
INDEX HEAVY WEIGHT
1. HDFC Bank is in a range of 1690 to 1710. Any break of this will give direction to Indices.
2.ICICI Bank has support at 1210.
3. Reliance is very bullish. 3050 - 3070 is the range. Any break of this range will give direction to Nifty.
4. IT has turned bullish. So Nifty may continue its uptrend if Bank Nifty and Reliance remain neutral to mildly bullish.
TRADING PLAN
1. NIFTY OPEN BETWEEN 23920 - 24080 : Buy any dip to 23920 levels.
2.NIFTY OPEN ABOVE 24080: Wait for a dip to 23900 and consolidation and buy the break out above 24000.
3.NIFTY OPEN BELOW 23920: Wait for a consolidation and break below 23800 decisively.
4.BANK NIFTY OPEN BETWEEN 52650 - 52950 LEVELS. NO TRADE.
5. BANK NIFTY OPEN ABOVE 52950 LEVELS. Wait for a consolidation between 52850 - 53100 and buy any break out.
6.BANK NIFTY OPEN BELOW 52650: Buy any consolidation and break below 52500 decisively. However any move above 52900 will again turn bank nifty bullish.
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.