Nifty Bank Indexشراء
PRE MARKET ANALYSIS FOR NIFTY AND BANK NIFTY FOR 20 JUL 2023
20 Jul 2023
WORLD MARKETS
1. US markets are looking bullish while Europe and Asia is mixed and choppy.
INDIA VIX AND GIFT NIFTY
1. India VIX is at 11.6 indicating bullishness. Nifty is indicating a flat start at 19833 spot and Bank Nifty at 45670 levels.
INDEX HEAVY WEIGHTS
1. HDFC Bank has made an inside candle. If it open above 1688, it will be bullish. Any move below 1677 is bearish.
2. ICICI Bank will remain muted because result will be on 22 Jul 2023. It will remain rangebound between 970 - 977. Breakout can be expected only post results.
3. Reliance is moving up but is losing momentum due to over bought. IT on the other hand is looking bullish.
Analysis
1. Indices has been range bound today and yesterday as can be seen due to small candles being made.
2. With only two index heavy weights yet to come up with results, market may remain rangebound with a positive bias.
TRADING PLAN
1. NIFTY OPEN FLAT: Any break of 19870 and sustain of the level will be positive for a tgt of 19903 - 19957.
2. NIFTY OPEN GAP UP: Any break of 19903 is bullish for a tgt of 19957.
3.NIFTY OPEN GAP DOWN: Any move to 19800 is a buying opportunity.
4.BANK NIFTY OPEN FLAT: Any move above 45770 and sustain will be positive for a tgt of 45830 and 45957.
5. BANK NIFTY OPEN GAP UP: Any gap up above 45817 will be bullish for a tgt of 45944 and above.
6. BANK NIFTY OPEN GAP DOWN: Any move to 45500 will be a buying opportunity.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVISOR FOR ANY TRADE RELATED QUERY.
WORLD MARKETS
1. US markets are looking bullish while Europe and Asia is mixed and choppy.
INDIA VIX AND GIFT NIFTY
1. India VIX is at 11.6 indicating bullishness. Nifty is indicating a flat start at 19833 spot and Bank Nifty at 45670 levels.
INDEX HEAVY WEIGHTS
1. HDFC Bank has made an inside candle. If it open above 1688, it will be bullish. Any move below 1677 is bearish.
2. ICICI Bank will remain muted because result will be on 22 Jul 2023. It will remain rangebound between 970 - 977. Breakout can be expected only post results.
3. Reliance is moving up but is losing momentum due to over bought. IT on the other hand is looking bullish.
Analysis
1. Indices has been range bound today and yesterday as can be seen due to small candles being made.
2. With only two index heavy weights yet to come up with results, market may remain rangebound with a positive bias.
TRADING PLAN
1. NIFTY OPEN FLAT: Any break of 19870 and sustain of the level will be positive for a tgt of 19903 - 19957.
2. NIFTY OPEN GAP UP: Any break of 19903 is bullish for a tgt of 19957.
3.NIFTY OPEN GAP DOWN: Any move to 19800 is a buying opportunity.
4.BANK NIFTY OPEN FLAT: Any move above 45770 and sustain will be positive for a tgt of 45830 and 45957.
5. BANK NIFTY OPEN GAP UP: Any gap up above 45817 will be bullish for a tgt of 45944 and above.
6. BANK NIFTY OPEN GAP DOWN: Any move to 45500 will be a buying opportunity.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVISOR FOR ANY TRADE RELATED QUERY.
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