PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 27 AUG 2024
27 Aug 2024
WORLD MARKETS
1. All the world markets are looking bullish.
INDIA VIX AND GIFT NIFTY
1. INDIA VIX has closed above 13.7 indicating bullishness. But has increased.
2. GIFT NIFTY is indicating a flat opening.
INDEX HEAVY WEIGHTS
1.HDFC Bank has closed below 1640. But is bullish. It has taken rejection at 1650 levels.
2. ICICI Bank is also very bullish. 1217 is a strong resistance.
3. Reliance has resistance at 3051. It has closed above 3000 decisively.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24963 - 25055: No Trade.
2. NIFTY OPEN ABOVE 25055: Wait for a consolidation and break above 25105 decisively. can SELL 25000 put options.
3. NIFTY OPEN BELOW 24960: Wait for a consolidation and break above 25000 decisively. However if break happens below 24900, then we SELL 24900 call options.
4.BANK NIFTY OPEN BETWEEN 51075-51220: NO TRADE.
5.BANK NIFTY OPEN ABOVE 51218: Wait for a consolidation and break above 51220 decisively. we can SELL 51200 PUT OPTIONS in case of break out above 51220 decisively.
6.BANK NIFTY OPEN BELOW 51076: Wait for a consolidation and break above 51100 decisively. Then 51100 put options can be SOLD.
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 has closed above 13.7 indicating bullishness. But has increased.
2. GIFT NIFTY is indicating a flat opening.
INDEX HEAVY WEIGHTS
1.HDFC Bank has closed below 1640. But is bullish. It has taken rejection at 1650 levels.
2. ICICI Bank is also very bullish. 1217 is a strong resistance.
3. Reliance has resistance at 3051. It has closed above 3000 decisively.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24963 - 25055: No Trade.
2. NIFTY OPEN ABOVE 25055: Wait for a consolidation and break above 25105 decisively. can SELL 25000 put options.
3. NIFTY OPEN BELOW 24960: Wait for a consolidation and break above 25000 decisively. However if break happens below 24900, then we SELL 24900 call options.
4.BANK NIFTY OPEN BETWEEN 51075-51220: NO TRADE.
5.BANK NIFTY OPEN ABOVE 51218: Wait for a consolidation and break above 51220 decisively. we can SELL 51200 PUT OPTIONS in case of break out above 51220 decisively.
6.BANK NIFTY OPEN BELOW 51076: Wait for a consolidation and break above 51100 decisively. Then 51100 put options can be SOLD.
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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