NIFTY AND BANK NIFTY ANALYSIS FOR 15 FEB 2023

14 Feb 2023 2100 Hrs.
1. All the world markets are looking oversold and bullish.
2. India VIX is at 13.5 and looking bullish.
3. As predicted HDFC bank and reliance triggered. ICICI bank also joined the party.
4. Bank Nifty has cleared 41500 and Nifty 17900.
5. Nifty has highest call OI at 18000. highest put OI at 17800.
6. Bank Nifty has highest Call OI at 42000 and 41800. Highest put OI is at 41500.
7. Reliance has made a bullish marabuzu candle.
Analysis.
1. Nifty after the rally, can consolidate between 17900 -18000.
2. Bank Nifty has resistance at 41800 -42000. It can trade between 41500 -41800 range.
Trading plan.
1. I will remain bullish for tomorrow.
2. I avoid short sells.
3. I will buy nifty If it drops to 17850 levels. Tgt 17950.
4. I will Buy Bank nifty if it dips to 41550 for a tgt of 41770.
5. Reliance is bullish. If it crosses 2385 we can see 15 - 20 points up move.
6. HDFC Bank and ICICI bank remain very bullish.