PRE MARKET ANALYSIS OF NIFTY FOR 21 NOV 2024
21 Nov 2024
WORLD MARKETS
1. US markets are taking support at 21 SMA and has rebounded.
2. Europe is trading with a negative bias.
3. Asia is mixed.
4. US incumbent president has spoken about Ukraine - Russia war which is disturbing and may indicate in stability.
INDIA VIX AND GIFT NIFTY
1. India VIX is above 15.6 indicating more bearishness.
2. GIFT Nifty is indicating a flat opening .
INDEX HEAVY WEIGHTS
1. HDFC Bank is looking bullish. It has a target of 1780.
2. ICICI Bank on the other hand is bearish. 1260 is a very strong resistance. Next tgt can be 1225.
3. Reliance has resistance at 1250. It has a tgt of 1200.
4. Market may remain range bound between 23800 - 23300 with a straddle at 23500.
TRADING PLAN
1. NIFTY OPEN BETWEEN 23605 - 23432 : NO TRADE.
2.NIFTY OPEN ABOVE 23605 : Sell any rally to 23700 and break below 23600.
3.NIFTY OPEN BELOW 23432: Sell any rally to 23500 and break below 23400 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 are taking support at 21 SMA and has rebounded.
2. Europe is trading with a negative bias.
3. Asia is mixed.
4. US incumbent president has spoken about Ukraine - Russia war which is disturbing and may indicate in stability.
INDIA VIX AND GIFT NIFTY
1. India VIX is above 15.6 indicating more bearishness.
2. GIFT Nifty is indicating a flat opening .
INDEX HEAVY WEIGHTS
1. HDFC Bank is looking bullish. It has a target of 1780.
2. ICICI Bank on the other hand is bearish. 1260 is a very strong resistance. Next tgt can be 1225.
3. Reliance has resistance at 1250. It has a tgt of 1200.
4. Market may remain range bound between 23800 - 23300 with a straddle at 23500.
TRADING PLAN
1. NIFTY OPEN BETWEEN 23605 - 23432 : NO TRADE.
2.NIFTY OPEN ABOVE 23605 : Sell any rally to 23700 and break below 23600.
3.NIFTY OPEN BELOW 23432: Sell any rally to 23500 and break below 23400 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
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.