Nifty 50 IndexShort
PRE MARKET ANALYSIS OF NIFTY FOR 20 DEC 2024
20 DEC 2024
1. World markets have become jittery due to the US fed chairman hawkish comments.
2. It may settle down in a day or two.
2. Also Dec last week will be usually lacklustre due to the NEW YEAR AND CHRISTMAS.
INDIA VIX AND GIFT NIFTY
1. India VIX is above 14 indicating increase in volatility.
2. GIFT Nifty is indicating a flat start.
INDEX HEAVY WEIGHTS
1. HDFC Bank has turned bearish on a daily chart. However it has made a hammer. 1800 is a strong resistance.
2. ICICI Bank has resistance at 1300. It is looking bearish.
3. Reliance is also very bearish with 1230 as a good support. Break of 1230 will be bearish.
TRADING PLAN
1. NIFTY OPEN BETWEEN 23989 - 23915 : NO TRADE.
2. NIFTY OPEN ABOVE 23989: Wait for a break above 24100 decisively.
3. NIFTY OPEN BELOW 23915: Wait for a consolidation and break below 24850 decisivbely.
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.
1. World markets have become jittery due to the US fed chairman hawkish comments.
2. It may settle down in a day or two.
2. Also Dec last week will be usually lacklustre due to the NEW YEAR AND CHRISTMAS.
INDIA VIX AND GIFT NIFTY
1. India VIX is above 14 indicating increase in volatility.
2. GIFT Nifty is indicating a flat start.
INDEX HEAVY WEIGHTS
1. HDFC Bank has turned bearish on a daily chart. However it has made a hammer. 1800 is a strong resistance.
2. ICICI Bank has resistance at 1300. It is looking bearish.
3. Reliance is also very bearish with 1230 as a good support. Break of 1230 will be bearish.
TRADING PLAN
1. NIFTY OPEN BETWEEN 23989 - 23915 : NO TRADE.
2. NIFTY OPEN ABOVE 23989: Wait for a break above 24100 decisively.
3. NIFTY OPEN BELOW 23915: Wait for a consolidation and break below 24850 decisivbely.
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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