PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 18 OCT 2024
16 OCT 2024
WORLD MARKETS
1. World Markets are consolidating with a positive bias. After rally, a pull back may be in Order.
INDIA VIX AND GIFT NIFTY
1. India VIX is still above 12 indicating bearishness.
2. GIFT Nifty as of now is indicating a 45 points uptick at 25020. This amounts to 51930 for bank nifty.
INDEX HEAVY WEIGHTS
1. HDFC Bank QE sep result will be out tomorrow.So It may remain volatile. It has resistance at 1715.
2. ICICI Bank is still range bound between 1230 - 1255.
3. Reliance is still bearish. It has resistance at 2722 -2740.
TRADING PLAN
1. NIFTY OPEN BETWEEN 25020 - 24920: Sell any rally to 25050 and fall below 24975.
2.NIFTY OPEN ABOVE 25020 : Sell any rally to 25090.
3. NIFTY OPEN BELOW 24920: Sell any rally to 25020 and break below 24980.
4. BANK NIFTY OPEN BETWEEN 51711- 51890: No Trade.
5. BANK NIFTY OPEN ABOVE 51890 : Sell any rally to 52000 and break below 51890.
6.BANK NIFTY OPEN BELOW 51711: Wait for a consolidation and break below 51600 decisively. We can sell call for any rally to 51900.
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. After rally, a pull back may be in Order.
INDIA VIX AND GIFT NIFTY
1. India VIX is still above 12 indicating bearishness.
2. GIFT Nifty as of now is indicating a 45 points uptick at 25020. This amounts to 51930 for bank nifty.
INDEX HEAVY WEIGHTS
1. HDFC Bank QE sep result will be out tomorrow.So It may remain volatile. It has resistance at 1715.
2. ICICI Bank is still range bound between 1230 - 1255.
3. Reliance is still bearish. It has resistance at 2722 -2740.
TRADING PLAN
1. NIFTY OPEN BETWEEN 25020 - 24920: Sell any rally to 25050 and fall below 24975.
2.NIFTY OPEN ABOVE 25020 : Sell any rally to 25090.
3. NIFTY OPEN BELOW 24920: Sell any rally to 25020 and break below 24980.
4. BANK NIFTY OPEN BETWEEN 51711- 51890: No Trade.
5. BANK NIFTY OPEN ABOVE 51890 : Sell any rally to 52000 and break below 51890.
6.BANK NIFTY OPEN BELOW 51711: Wait for a consolidation and break below 51600 decisively. We can sell call for any rally to 51900.
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
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.