PRE MARKET ANALYSIS FOR NIFTY AND BANK NIFTY FOR 2 AUG 2023

31 de jul. de 2023

01 Aug 2023
WORLD MARKETS
1. US markets are consolidating with a bullish bias.
2. Asia and Europe are consolidating with a bearish bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 11 indicating bullishness and low volatility.
2. GIFT Nifty is indicating 54 points uptick at 19896 fut and 19800 spot. Bank nifty is indicating 45800 levels.
INDEX HEAVY WEIGHT
1. HDFC Bank is looking rangebound . Any move above 1670 is bullish. Any move below 1640 is bearish.
2. ICICI Bank is looking bullish. Any opening above 1000 is bullish. Any move below 992 is bearish.
3. Reliance is looking bullish. Any move above 2560 is bullish. Any dip to 2543 is a buying opportunity.
ANALYSIS
1. Nifty is looking bullish as reliance and ICICI Bank is looking bullish.
2. Bank Nifty is not getting support from HDFC Bank. If HDFC Bank moves, then bank nifty may turn bullish.
TRADING PLAN
1. NIFTY OPEN FLAT: 19707 is a strong support. Buy on dip to this level is a good strategy. SL at 19655.
2. NIFTY GAP UP: Any gap up above 19800 and consolidation is a buy. Any dip to 19760 can be accumulated. SL 19700. Sgt 19850
3. NIFTY OPEN GAP DOWN: Any gap down below 19700 is bearish. Tgt 19650 -19620.
4.BANK NIFTY OPEN FLAT: Any move above 45745 and break of 45830 is a buy. Tgt 46000.
5. BANK NIFTY OPEN GAP UP:Any gap up above 45830 is a buy for a tgt of 46000. Any gap up above 45740 and break of 45830 is also a buy.Any dip can be bought.
6.BANK NIFTY OPEN GAP DOWN: Any move below 45500 will be bearish for a tgt of 45300.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVISOR FOR ANY TRADE RELATED QUERY.