PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 24 SEP 2024
24 Sep 2024
WORLD MARKETS
1. All the World Markets are looking bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX is above 13.7 indicating we may see a pull back in the near term towards 53500.
2. GIFT Nifty is indicating 90 points uptick at 26000. This amounts to 54300 for bank nifty.
INDEX HEAVY WEIGHTS
1.HDFC Bank is very bullish. Tgt of 1795.
2. ICICI Bank has made an inside candle indicating indecisiveness.
3. Reliance has resistance at 3000.
TRADING PLAN
1. NIFTY OPEN BETWEEN 25900 - 25967: Buy any consolidation and break above 26000 decisively.
2.NIFTY OPEN ABOVE 25967: Buy any consolidation and move above 26000 decisively.
3.NIFTY OPEN BELOW 25900: Sell any consolidation and break below 25900 decisively.
4.BANK NIFTY OPEN BETWEEN 54230 - 53974: Buy any dip to 53900.
5.BANK NIFTY OPEN ABOVE 54230: Wait for a dip to 54100
6. BANK NIFTY OPEN BELOW 53979: Wait for a consolidation and break below 53850 decisively. However if the Bank nifty move above 54100 post consolidation, it is a buy.
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 World Markets are looking bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX is above 13.7 indicating we may see a pull back in the near term towards 53500.
2. GIFT Nifty is indicating 90 points uptick at 26000. This amounts to 54300 for bank nifty.
INDEX HEAVY WEIGHTS
1.HDFC Bank is very bullish. Tgt of 1795.
2. ICICI Bank has made an inside candle indicating indecisiveness.
3. Reliance has resistance at 3000.
TRADING PLAN
1. NIFTY OPEN BETWEEN 25900 - 25967: Buy any consolidation and break above 26000 decisively.
2.NIFTY OPEN ABOVE 25967: Buy any consolidation and move above 26000 decisively.
3.NIFTY OPEN BELOW 25900: Sell any consolidation and break below 25900 decisively.
4.BANK NIFTY OPEN BETWEEN 54230 - 53974: Buy any dip to 53900.
5.BANK NIFTY OPEN ABOVE 54230: Wait for a dip to 54100
6. BANK NIFTY OPEN BELOW 53979: Wait for a consolidation and break below 53850 decisively. However if the Bank nifty move above 54100 post consolidation, it is a buy.
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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