PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 23 AUG 2024
23 AUG 2024
WORLD MARKETS
1. US markets have pulled back and recovered all the lost ground in the last one week and trying to cross all time high.
2. Europe and Asia is also looking bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 13 indicating good bullishness.
2. GIFT Nifty is indicating a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC Bank is still in a range of 1640 - 1600.
2. ICICI Bank has turned bullish but 1195 still remain a strong resistance. Any break of this will be bullish.
3. Reliance has still 3000 as a strong resistance.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24788 - 24835: No Trade.
2. NIFTY OPEN ABOVE 24835: Wait for a consolidation and break above 24900 decisively.
3.NIFTY OPEN BELOW 24788: Wait for a consolidation and break below 24700 decisively.
4.BANK NIFTY OPEN BETWEEN 51063 - 50906: NO TRADE.
5.BANK NIFTY OPEN ABOVE 51063: Wait for a consolidation and break above 51150.
6.BANK NIFTY OPEN BELOW 50906: Wait for a consolidation and break below 50800 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. US markets have pulled back and recovered all the lost ground in the last one week and trying to cross all time high.
2. Europe and Asia is also looking bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 13 indicating good bullishness.
2. GIFT Nifty is indicating a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC Bank is still in a range of 1640 - 1600.
2. ICICI Bank has turned bullish but 1195 still remain a strong resistance. Any break of this will be bullish.
3. Reliance has still 3000 as a strong resistance.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24788 - 24835: No Trade.
2. NIFTY OPEN ABOVE 24835: Wait for a consolidation and break above 24900 decisively.
3.NIFTY OPEN BELOW 24788: Wait for a consolidation and break below 24700 decisively.
4.BANK NIFTY OPEN BETWEEN 51063 - 50906: NO TRADE.
5.BANK NIFTY OPEN ABOVE 51063: Wait for a consolidation and break above 51150.
6.BANK NIFTY OPEN BELOW 50906: Wait for a consolidation and break below 50800 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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