Nifty Bank IndexLong
PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 20 AUG 2024
20 AUG 2024
WORLD MARKETS
1. All the world markets are looking bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 15 indicating bullishness.
2. GIFT Nifty is indicating 54 points uptick at 24630.
INDEX HEAVY WEIGHTS
1. HDFC Bank has support at 1600 and resistance at 1640. Any break above 1640 is bullish.
2. ICICI Bank has support at 1170. Any break of this will be bearish.
3. Reliance has a very strong resistance at 3000.
1.NIFTY OPEN BETWEEN 24604 - 24540: NO TRADE.
NIFTY OPEN ABOVE 24604. :Wait for a consolidation between 24600 - 24650 and buy any breakout above 24650.
3.NIFTY OPEN BELOW 24540: Wait for a consolidation between 24500 - 24540 and break above 24550.
4.BANK NIFTY OPEN BETWEEN 50246 - 50490: NO TRADE.
5. BANK NIFTY OPEN ABOVE 50490. Wait for a consolidation and break above 50610 decisively.
6. BANK NIFTY OPEN BELOW 50246: Sell any rally to 50400.
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 bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 15 indicating bullishness.
2. GIFT Nifty is indicating 54 points uptick at 24630.
INDEX HEAVY WEIGHTS
1. HDFC Bank has support at 1600 and resistance at 1640. Any break above 1640 is bullish.
2. ICICI Bank has support at 1170. Any break of this will be bearish.
3. Reliance has a very strong resistance at 3000.
1.NIFTY OPEN BETWEEN 24604 - 24540: NO TRADE.
NIFTY OPEN ABOVE 24604. :Wait for a consolidation between 24600 - 24650 and buy any breakout above 24650.
3.NIFTY OPEN BELOW 24540: Wait for a consolidation between 24500 - 24540 and break above 24550.
4.BANK NIFTY OPEN BETWEEN 50246 - 50490: NO TRADE.
5. BANK NIFTY OPEN ABOVE 50490. Wait for a consolidation and break above 50610 decisively.
6. BANK NIFTY OPEN BELOW 50246: Sell any rally to 50400.
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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