PRE MARKET ANALYSIS FOR NIFTY AND BANK NIFTY FOR 11 AUG 2023
11 Aug 2023
WORLD MARKETS
1. World markets are in green.
INDIA VIX AND GIFT NIFTY
1. India VIX is at 11.4 indicating very high volatility.
2. GIFT Nifty is indicating 30 points uptick at 19570. This amounts to 90 points uptick at 44620.
INDEX HEAVY WEIGHTS
1. HDFC Bank is moving in a range of 1644- 1630. Any break of these levels wil give trending move to Bank Nifty.
2. ICICI Bank is also in a range of 960 - 970. Any break of these range will give trending move.
3. Reliance is bullish. Any dip to to 2525 will be a buying opportunity.
ANALYSIS
1. US markets are in green.
2. The RBI policy has kept the repo rate unchanged.
3. But the the RBI has increased the ICRR. This will suck out the liquidity from the banking system. but this will be temporary.
4. But this may have some effect on banking stocks at least temporarily.
5. Market may remain range bound for tomorrow.
TRADING PLAN
1. NIFTY OPEN FLAT: Any Move to 19600 and drop below 19570 will be bearish for a tgt of 19540.
2. NIFTY OPEN GAP UP: Any gap up above 19613 will be bullish for a tgt of 19680.
3. NIFTY OPEN GAP DOWN: Any move below 19500 decisively will be bearish for a tgt 19400.
4. BANK NIFTY OPEN FLAT: Any move to 44730 is a sell.
5. BANK NIFTY OPEN GAP UP: Any move above 44800 can be bullish for a tgt of 44970.
6. BANK NIFTY OPEN GAP DOWN: Any gap down below 44500 is bearish for a tgt of 44050.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION ID=S FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ANALYST FOR ANY TRADE RELATED QUERY.
WORLD MARKETS
1. World markets are in green.
INDIA VIX AND GIFT NIFTY
1. India VIX is at 11.4 indicating very high volatility.
2. GIFT Nifty is indicating 30 points uptick at 19570. This amounts to 90 points uptick at 44620.
INDEX HEAVY WEIGHTS
1. HDFC Bank is moving in a range of 1644- 1630. Any break of these levels wil give trending move to Bank Nifty.
2. ICICI Bank is also in a range of 960 - 970. Any break of these range will give trending move.
3. Reliance is bullish. Any dip to to 2525 will be a buying opportunity.
ANALYSIS
1. US markets are in green.
2. The RBI policy has kept the repo rate unchanged.
3. But the the RBI has increased the ICRR. This will suck out the liquidity from the banking system. but this will be temporary.
4. But this may have some effect on banking stocks at least temporarily.
5. Market may remain range bound for tomorrow.
TRADING PLAN
1. NIFTY OPEN FLAT: Any Move to 19600 and drop below 19570 will be bearish for a tgt of 19540.
2. NIFTY OPEN GAP UP: Any gap up above 19613 will be bullish for a tgt of 19680.
3. NIFTY OPEN GAP DOWN: Any move below 19500 decisively will be bearish for a tgt 19400.
4. BANK NIFTY OPEN FLAT: Any move to 44730 is a sell.
5. BANK NIFTY OPEN GAP UP: Any move above 44800 can be bullish for a tgt of 44970.
6. BANK NIFTY OPEN GAP DOWN: Any gap down below 44500 is bearish for a tgt of 44050.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION ID=S FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ANALYST FOR ANY TRADE RELATED QUERY.
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