NIFTY AND BANK NIFTY ANALYSIS FOR 29 MAR 2023
28 Mar 2023 2200 hrs
1. US markets are neutral. Europe and Asia is bearish.
2.India VIX is at 15.1 which is neutral.
3. HDFC Bank is looking bullish and ready for a pull back. If HDFC Bank crosses 1584 then next tgt is 1590 - 1595. It has support at 1576.
4. ICICI Bank is neutral . If it crosses 860 it has a target of 865. It has support at 855.
5. Reliance is also looking bullish. Any move above 2255 will be bullish. It has support at 2245.
6. Nifty has repeatedly closed below 17000. However it has support at 16900 and resistance at 17000. we may expect the nifty to be neutral to bearish.
7. Bank Nifty is again range bound between 39600 to 39500.
Analysis
1. As reliance is neutral to bullish and IT is neutral to bearish nifty may remain range bound.
2. Similarly HDFC Bank look bullish but ICICI bank is neural to bearish. SBI and Axis bank is bearish .
Trading plan.
1. Bullish bets in nifty can only be taken if nifty sustain above 17060 levels. bearish bets can be taken below 16900.
2. Similarly bullish bets in bank nifty can be taken above 39730 for a tgt of 39850 and above. Bearish bets can be taken only below 39300 is broken.
I AM NOT A SEBI REGISTERED TRADER PLEASE USE THIS INFORMATION FOR EDUCATIONAL PURPOSES AND TO ENHANCE YOUR DECISION MAKING.
1. US markets are neutral. Europe and Asia is bearish.
2.India VIX is at 15.1 which is neutral.
3. HDFC Bank is looking bullish and ready for a pull back. If HDFC Bank crosses 1584 then next tgt is 1590 - 1595. It has support at 1576.
4. ICICI Bank is neutral . If it crosses 860 it has a target of 865. It has support at 855.
5. Reliance is also looking bullish. Any move above 2255 will be bullish. It has support at 2245.
6. Nifty has repeatedly closed below 17000. However it has support at 16900 and resistance at 17000. we may expect the nifty to be neutral to bearish.
7. Bank Nifty is again range bound between 39600 to 39500.
Analysis
1. As reliance is neutral to bullish and IT is neutral to bearish nifty may remain range bound.
2. Similarly HDFC Bank look bullish but ICICI bank is neural to bearish. SBI and Axis bank is bearish .
Trading plan.
1. Bullish bets in nifty can only be taken if nifty sustain above 17060 levels. bearish bets can be taken below 16900.
2. Similarly bullish bets in bank nifty can be taken above 39730 for a tgt of 39850 and above. Bearish bets can be taken only below 39300 is broken.
I AM NOT A SEBI REGISTERED TRADER PLEASE USE THIS INFORMATION FOR EDUCATIONAL PURPOSES AND TO ENHANCE YOUR DECISION MAKING.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.