PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 04 NOV 2024
05 NOV 2024
WORLD MARKETS
1.All the markets are consolidating with a positive bias. This is because of the presidential elections.
2. we may see more volatility till the election completes.
INDIA VIX AND GIFT NIFTY
1. INDIA VIX is extremely high. This indicate more bearishness to stay.
2. GIFT NIFTY is indicating a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC BANK has support at 1700.Any break of 1700 is bearish.
2. ICICI Bank has resistance at 1285. Support at 1270.
3. Reliance has support at 1285. Resistance at 3126.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24155 - 23858: No Trade.
2. NIFTY OPEN ABOVE 24155: Sell any rally to 24200.
3. NIFTY OPEN BELOW 23860: Sell any rally to 23900.
4. BANK NIFTY OPEN BETWEEN 51400 - 51050: NO TRADE.
5. BANK NIFTY OPEN ABOVE 51400 : Sell any rally to 51500.
6. BANK NIFTY OPEN BELOW 51050: Sell any rally to 51300.
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.All the markets are consolidating with a positive bias. This is because of the presidential elections.
2. we may see more volatility till the election completes.
INDIA VIX AND GIFT NIFTY
1. INDIA VIX is extremely high. This indicate more bearishness to stay.
2. GIFT NIFTY is indicating a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC BANK has support at 1700.Any break of 1700 is bearish.
2. ICICI Bank has resistance at 1285. Support at 1270.
3. Reliance has support at 1285. Resistance at 3126.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24155 - 23858: No Trade.
2. NIFTY OPEN ABOVE 24155: Sell any rally to 24200.
3. NIFTY OPEN BELOW 23860: Sell any rally to 23900.
4. BANK NIFTY OPEN BETWEEN 51400 - 51050: NO TRADE.
5. BANK NIFTY OPEN ABOVE 51400 : Sell any rally to 51500.
6. BANK NIFTY OPEN BELOW 51050: Sell any rally to 51300.
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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