PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 14 DEC 2023

١٣ ديسمبر ٢٠٢٣

14 Dec 2023
WORLD MARKETS
1. US markets are looking bullish and has still some steam left.
2. Europe is looking tired and looking for a pull back.
3. Asia is looking bearish.
INDIA VIX AND GIFT NIFTY
1. India VIX has crashed by 5% but still above 12.
2. GIFT Nifty is indicating 10 points uptick @ 20935.
INDEX HEAVY WEIGHTS
1. HDFC Bank is looking bearish for short term. It may be range bound between 1580 - 1650.1620 is a good Sp.
2. ICICI Bank is still looking bullish. It may consolidate between 1000 - 1020.
3. Reliance has sp at 2410. Any break of this will be bearish.
ANALYSIS
1. Indices are consolidating with a bullish bias. Nifty has good sp at 20750 and any break of this will be bearish.
2. Bank Nifty has sp at 46750 and any break of this will be bearish.
3. I remain bullish for long term but bearish for short term.
TRADING PLAN
1.NIFTY OPEN BETWEEEN 20975 - 20875 : Buy any dip to 20850.
2.NIFTY OPEN ABOVE 20975 : Wait for a consolidation and break above 21025.
3.NIFTY OPEN BELOW 20850 : Sel Any break of 20820.
4.BANK NIFTY OPEN BETWEEN 47175 - 47000 : Buy any dip to 46900 and move above 47000.
5. BANK NIFTY OPEN ABOVE 47185 : Buy any dip to 47150 and move above 47220.
6.BANK NIFTY MOVE BELOW 47000: Sell any consolidation and break down below 46850.

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.