Nifty Bank IndexLong
PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 15 JAN 2024
15 Jan 2024
HELLO EVERYONE . SORRY I WAS ON A 10 DAY ROAD TRIP SO COULD NOT POST.
WORLD MARKETS
1. US is consolidating with a bullish bias.
2. Europe is looking neutral with a bearish bias.
3. Asia is mixed.
INDIA VIX AND GIFT NIFTY
1. India VIX is 13 indicating continuation in volatility.
2. GIFT Nifty is indicating. a muted start to the indices.
INDEX HEAVY WEIGHTS
1. HDFC Bank is in a down trend for the past 7 days. 1621 is a good support. Any break of this may drag the stock to 1590 levels.
2. ICICI Bank on the other hand was in down trend and has consolidated and trying to make an up move. 1003 is still a strong resistance.Any break of this may give an up move till 1024 levels.
3. Reliance on the other hand is on a bull run and has gained 60 points in last three sessions.
ANALYSIS
1. Result season has kicked in and today is Jio financial services result. So itwill have an impact on Nifty.
2. Tomorrow is HDFC Bank result. We may see some volatility in Bank Nifty Index today and tomorrow.
3. However both the indices are looking extremely bullish.
TRADING PLAN
1. NIFTY OPEN BETWEEN 21952 AND 21835 : Buy any dip to 21775 levels and move above 21835.
2. NIFTY OPEN ABOVE 22011 : Buy any consolidation at 22000 levels and then a breakout. 22000 is a crucial level. Do not buy the first break out.
3.NIFTY OPEN BELOW 21775 : Wait for a move above 21835.
4. BANK NIFTY OPEN BETWEEN 47840 - 47575 : No Trade.
5. BANK NIFTY OPEN ABOVE 47843 : Wait for a consolidation and break above 47900 decisively with volume.
6. BANK NIFTY OPEN BELOW 47575. : Wait for a break below 47450 levels.
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.
HELLO EVERYONE . SORRY I WAS ON A 10 DAY ROAD TRIP SO COULD NOT POST.
WORLD MARKETS
1. US is consolidating with a bullish bias.
2. Europe is looking neutral with a bearish bias.
3. Asia is mixed.
INDIA VIX AND GIFT NIFTY
1. India VIX is 13 indicating continuation in volatility.
2. GIFT Nifty is indicating. a muted start to the indices.
INDEX HEAVY WEIGHTS
1. HDFC Bank is in a down trend for the past 7 days. 1621 is a good support. Any break of this may drag the stock to 1590 levels.
2. ICICI Bank on the other hand was in down trend and has consolidated and trying to make an up move. 1003 is still a strong resistance.Any break of this may give an up move till 1024 levels.
3. Reliance on the other hand is on a bull run and has gained 60 points in last three sessions.
ANALYSIS
1. Result season has kicked in and today is Jio financial services result. So itwill have an impact on Nifty.
2. Tomorrow is HDFC Bank result. We may see some volatility in Bank Nifty Index today and tomorrow.
3. However both the indices are looking extremely bullish.
TRADING PLAN
1. NIFTY OPEN BETWEEN 21952 AND 21835 : Buy any dip to 21775 levels and move above 21835.
2. NIFTY OPEN ABOVE 22011 : Buy any consolidation at 22000 levels and then a breakout. 22000 is a crucial level. Do not buy the first break out.
3.NIFTY OPEN BELOW 21775 : Wait for a move above 21835.
4. BANK NIFTY OPEN BETWEEN 47840 - 47575 : No Trade.
5. BANK NIFTY OPEN ABOVE 47843 : Wait for a consolidation and break above 47900 decisively with volume.
6. BANK NIFTY OPEN BELOW 47575. : Wait for a break below 47450 levels.
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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