PRE MARKET ANALYSIS OF NIFTY FOR 03 JAN 2025

3 days ago

03 JAN 2024
WORLD MARKETS
1. World markets are consolidating with no triggers.
INDIA VIX AND GIFT NIFTY
1. Indai VIX is down 5 %. This is the reason for the 445 points uptick supported by IT, oil & GAs and Auto.
INDEX HEAVY WEIGHTS.
1. HDFC Bank is consolidating with a positive bias. Any move above 1805 is bullish for a tgt of 1825 and above.
2. ICICI Bank is consolidating with a positive bias. Any 5 Min bar close above 1305 is bullish. Look for good volume.
3. Reliance is consolidating with a positive bias. Any dip to 1340 is buy.
ANALYSIS
1. Today Nifty moved up because of Monster move by Infy, Maruti, ONGC, Bajaj Auto, Bajaj Finserv and Bajaj Finance. All are Non Index heavy weights. Except Reliance which moved 1.5%.
2. BAnk Nifty move was supported by SBI and Axis Bank.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24320 - 24058 : Buy any dip to 24060.
2. NIFTY OPEN ABOVE 24319: Wait for a dip to 24200.
3. NIFTY OPEN BELOW 24060 : Wait for a consolidation and break above 244100 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.03 JAN 2024
WORLD MARKETS
1. World markets are consolidating with no triggers.
INDIA VIX AND GIFT NIFTY
1. Indai VIX is down 5 %. This is the reason for the 445 points uptick supported by IT, oil & GAs and Auto.
INDEX HEAVY WEIGHTS.
1. HDFC Bank is consolidating with a positive bias. Any move above 1805 is bullish for a tgt of 1825 and above.
2. ICICI Bank is consolidating with a positive bias. Any 5 Min bar close above 1305 is bullish. Look for good volume.
3. Reliance is consolidating with a positive bias. Any dip to 1340 is buy.
ANALYSIS
1. Today Nifty moved up because of Monster move by Infy, Maruti, ONGC, Bajaj Auto, Bajaj Finserv and Bajaj Finance. All are Non Index heavy weights. Except Reliance which moved 1.5%.
2. Bank Nifty move was supported by SBI and Axis Bank.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24320 - 24058 : Buy any dip to 24060.
2. NIFTY OPEN ABOVE 24319: Wait for a dip to 24200.
3. NIFTY OPEN BELOW 24060 : Wait for a consolidation and break above 244100 decisively.
STOCK TO TRADE
BUY
1. HDFC Bank above 1805.
2. ICICI Bank above 1305.
3. Tata Motor above 775.
4.SBIN above 805.
SELL
1. HINDALCO BELOW 590.
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.