PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 27 Jun 2024
27 JUN 2024
WORLD MARKETS
1. World markets are consolidating with a positive bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is at 14 and is below indicating more bullishness. Buy on dips will be a good strategy.
2. GIFT Nifty is indicating a negative opening with a 60 points down tick at 23800. This amounts to 200 points downtick for bank nifty at 52500
INDEX HEAVY WEIGHTS
1. HDFC BANK is looking for a pull back to 1670. So we may expect this if it move below 1685.
2.ICICI Bank has good support at1195. Any break of 1190 will get us 1175.
3.Reliance is very bullish. we may see some consolidation .
4. However if IT start moving up we may see more upside in Nifty.
TRADING PLAN
1.NIFTY OPRN BETWEEN 239230-23800: Buy any dip to 23800.
2.NIFTY OPEN ABOVE 23930 : Wait for a dip to 23800.
3.NIFTY OPEN BELOW 23800: Any consolidation between 23740 - 23800 and break out above 23800 IS A BUY.
3.BANK NIFTY OPEN BETWEEN 52325 -52850: Any consolidation between 53370 -53650 and break out is a buy.
5.BANK NIFTY OPEN ABOVE 52800 : Wait for a dip to 52550 levels.
6.bank nifty open below 52300: Any consolidation and break above 52650 is a buy. Any consolidation and break below 52300 is a sell target 52000.
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 at 14 and is below indicating more bullishness. Buy on dips will be a good strategy.
2. GIFT Nifty is indicating a negative opening with a 60 points down tick at 23800. This amounts to 200 points downtick for bank nifty at 52500
INDEX HEAVY WEIGHTS
1. HDFC BANK is looking for a pull back to 1670. So we may expect this if it move below 1685.
2.ICICI Bank has good support at1195. Any break of 1190 will get us 1175.
3.Reliance is very bullish. we may see some consolidation .
4. However if IT start moving up we may see more upside in Nifty.
TRADING PLAN
1.NIFTY OPRN BETWEEN 239230-23800: Buy any dip to 23800.
2.NIFTY OPEN ABOVE 23930 : Wait for a dip to 23800.
3.NIFTY OPEN BELOW 23800: Any consolidation between 23740 - 23800 and break out above 23800 IS A BUY.
3.BANK NIFTY OPEN BETWEEN 52325 -52850: Any consolidation between 53370 -53650 and break out is a buy.
5.BANK NIFTY OPEN ABOVE 52800 : Wait for a dip to 52550 levels.
6.bank nifty open below 52300: Any consolidation and break above 52650 is a buy. Any consolidation and break below 52300 is a sell target 52000.
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.