PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 29 AUG 2024
29 Jun 2024
WORLD MARKETS
1. World markets are consolidating with a positive bias.
INDIA VIX AND GIFT NIFTY
1. INDIA VIX is below 14 but is up 2.35 % at 13.9.
2. GIFT nifty is indicating a 24 point down tick at 25000.
INDEX HEAVY WEIGHTS
1. HDFC Bank is range between 1620 - 1650 levels. Any break of these level will give direction to Indices.
2. ICICI Bank is consolidating with a bullish bias. It has a tgt of 1235.
3. Reliance has support at 2980 and resistance at 3012.
TRADING PLAN
1. NIFTY OPEN BETWEEN 25090 - 25000: No Trade.
2. NIFTY OPEN ABOVE 25090: Wait for a consolidation and break above 25100 decisively.
3.NIFTY OPEN BELOW 25000: Sell any rally to 25100.
4.BANK NIFTY OPEN BETWEEN 51080- 51206: No Trade.
5.BANK NIFTY OPEN ABOVE 51206: Wait for a consolidation between 51206- 51275 and break above 51275.
6.BANK NIFTY OPEN BELOW 51080 : Sell any rally to 51250.
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.
INDIA VIX AND GIFT NIFTY
1. INDIA VIX is below 14 but is up 2.35 % at 13.9.
2. GIFT nifty is indicating a 24 point down tick at 25000.
INDEX HEAVY WEIGHTS
1. HDFC Bank is range between 1620 - 1650 levels. Any break of these level will give direction to Indices.
2. ICICI Bank is consolidating with a bullish bias. It has a tgt of 1235.
3. Reliance has support at 2980 and resistance at 3012.
TRADING PLAN
1. NIFTY OPEN BETWEEN 25090 - 25000: No Trade.
2. NIFTY OPEN ABOVE 25090: Wait for a consolidation and break above 25100 decisively.
3.NIFTY OPEN BELOW 25000: Sell any rally to 25100.
4.BANK NIFTY OPEN BETWEEN 51080- 51206: No Trade.
5.BANK NIFTY OPEN ABOVE 51206: Wait for a consolidation between 51206- 51275 and break above 51275.
6.BANK NIFTY OPEN BELOW 51080 : Sell any rally to 51250.
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.
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