Nifty Bank IndexLong
PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 02 APR 2024
02 APR 2024
WORLD MARKETS
1. World markets are consolidating with a bullish bias.
INDIA VIX AND GIFT NIFTY
1.India VIX is at 12 indicating more bullishness.
3. GIFT nifty is indicating 90 points down tick at 22372.
INDEX HEAVY WEIGHTS
HDFC BANK has closed above crucial 1470 level and is looking bullish.
2. ICICI Bank is also bullish but is struggling to break 1100.
3. Reliance is consolidating with a bullish bias.
TRADING PLAN
1. NIFTY OPEN BETWEEN 22433 - 22491: NO TRADE.However any dip 22400 and break above 22440 is a buy. SL 22400.
2.NIFTY OPEN ABOVE 22490: Wait for a break out above 22530 decisively. wait for a consolidation.
3.NIFTY OPEN BELOW 22430 : Wait for a consolidation and break above 22440.
4.BANK NIFTY OPEN BETWEEN 47500 - 47650 : Any dip to 47400 and move above 47500 is a buy.
5.BANK NIFTY OPEN ABOVE 47650 : Wait for a consolidation and buy every dip to 47550 - 47600.
6.BANK NIFTY OPEN BELOW 47500 : Wait for a break below 47350 decisively. However if Bank nifty consolidate and break above 47500, it is a 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 consolidating with a bullish bias.
INDIA VIX AND GIFT NIFTY
1.India VIX is at 12 indicating more bullishness.
3. GIFT nifty is indicating 90 points down tick at 22372.
INDEX HEAVY WEIGHTS
HDFC BANK has closed above crucial 1470 level and is looking bullish.
2. ICICI Bank is also bullish but is struggling to break 1100.
3. Reliance is consolidating with a bullish bias.
TRADING PLAN
1. NIFTY OPEN BETWEEN 22433 - 22491: NO TRADE.However any dip 22400 and break above 22440 is a buy. SL 22400.
2.NIFTY OPEN ABOVE 22490: Wait for a break out above 22530 decisively. wait for a consolidation.
3.NIFTY OPEN BELOW 22430 : Wait for a consolidation and break above 22440.
4.BANK NIFTY OPEN BETWEEN 47500 - 47650 : Any dip to 47400 and move above 47500 is a buy.
5.BANK NIFTY OPEN ABOVE 47650 : Wait for a consolidation and buy every dip to 47550 - 47600.
6.BANK NIFTY OPEN BELOW 47500 : Wait for a break below 47350 decisively. However if Bank nifty consolidate and break above 47500, it is a 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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