PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 21 AUG 2024
21 AUG 2024
WORLD MARKETS
1. World markets are consolidating with a positive bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 14 indicating decrease in volatility.
2. GIFT Nifty is indicating 52 point downtick at 24650. This amounts to 50650 for bank nifty.
INDEX HEAVY WEIGHTS
1. HDFC Bank has resistance at 1640 and support at 1600.
2. ICICI Bank has support at 1170 and resistance at 1190.
3. Reliance has resistance at 3000.
TRADING PLAN
1.NIFTY OPEN BETWEEN 24660 - 24730: Buy any dip to 24550.
NIFTY OPEN BELOW 24660: Buy any dip to 24550.
3. NIFTY OPEN ABOVE 24730: Wait for a consolidation and break above 24750.
4.BANK NIFTY OPEN BETWEEN 50975 - 50630: No trade.
5.BANK NIFTY OPEN ABOVE 50975: Buy any dip to 50800.
6.BANK NIFTY OPEN BELOW 50630: Wait for a consolidation and break above 50550 decisively.
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 consolidating with a positive bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 14 indicating decrease in volatility.
2. GIFT Nifty is indicating 52 point downtick at 24650. This amounts to 50650 for bank nifty.
INDEX HEAVY WEIGHTS
1. HDFC Bank has resistance at 1640 and support at 1600.
2. ICICI Bank has support at 1170 and resistance at 1190.
3. Reliance has resistance at 3000.
TRADING PLAN
1.NIFTY OPEN BETWEEN 24660 - 24730: Buy any dip to 24550.
NIFTY OPEN BELOW 24660: Buy any dip to 24550.
3. NIFTY OPEN ABOVE 24730: Wait for a consolidation and break above 24750.
4.BANK NIFTY OPEN BETWEEN 50975 - 50630: No trade.
5.BANK NIFTY OPEN ABOVE 50975: Buy any dip to 50800.
6.BANK NIFTY OPEN BELOW 50630: Wait for a consolidation and break above 50550 decisively.
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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