PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 19 JUN 2024

18 de jun.

19 JUN 2024
WORLD MARKETS
1. World markets are looking bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX is at 13 indicating bullishness and buy on dip scenario. GIFT Nifty is indicating a 70 points uptick. we may have to resort to BTST in future.
INDEX HEAVY WEIGHTS
1. HDFC Bank has support at 1605. Any break of 1610 is bullish for a tgt of 1622.
2.ICICI Bank is consolidating with a negative bias. 1120 is a resistance and 1100 is a good support.
3. Reliance has strong resistance at 2980.
ANALYSIS
1. Indices are looking bullish and buy on dips will be a good strategy.
2. Nifty has strong resistance at 23600. But slowly it is grinding upwards.
3. BANK NIFTY has strong resistance at 50500.
TRADING PLAN
1.NIFTY OPEN BETWEEN 23530 -23580 : Buy any dip to 23500 and move above 23530.
2.NIFTY OPEN ABOVE 23580: Buy any dip to 23550 - 23500.
3.NIFTY OPEN BELOW 23530: Buy any consolidation and move above 23530.
4.BANK NIFTY OPEN BETWEEN 50250 -50620 : Buy any dip to 50300 -50400.
5.BANK NIFTY OPEN ABOVE 50620: Buy any dip to 50400.
6.BANK NIFTY OPEN BELOW 50250 : Buy any consolidation and move above 50400 decisively.

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.