PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 14 OCT 2024
14 OCT 2024
WORLD MARKETS
1. World Markets all have turned bullish post consolidation.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 14 indicating less volatility. GIFT Nifty is indicating 67 points Uptick at 25025 Levels. This amounts to 51350 Levels for Bank Nifty.
INDEX HEAVY WEIGHTS
1. HDFC Bank has closed above 1630 levels in past two trading session.
2. ICICI Bank has turned bearish and has closed below 1228 levels. It has support at 1200 levels.
3. Reliance has resistance at 2765. This is a very strong resistance. We may see further downside in reliance. It has support at 2700 levels.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24993 - 24934 : No Trade.
2. NIFTY OPEN ABOVE 24993: Sell any rally to 25100 levels.
3. NIFTY OPEN BELOW 24934: Wait for a consolidation and break below 24850 for taking short position.
4. BANK NIFTY OPEN BETWEEN 51000 -51323: No trade.
5. BANK NIFTY OPEN ABOVE 51323: Sell any rally to 51600 level and break below 51500 decisively.
6.BANK NIFTY OPEN BELOW 51000: Sell any rally to 51250 levels and break below 51100 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.
WORLD MARKETS
1. World Markets all have turned bullish post consolidation.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 14 indicating less volatility. GIFT Nifty is indicating 67 points Uptick at 25025 Levels. This amounts to 51350 Levels for Bank Nifty.
INDEX HEAVY WEIGHTS
1. HDFC Bank has closed above 1630 levels in past two trading session.
2. ICICI Bank has turned bearish and has closed below 1228 levels. It has support at 1200 levels.
3. Reliance has resistance at 2765. This is a very strong resistance. We may see further downside in reliance. It has support at 2700 levels.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24993 - 24934 : No Trade.
2. NIFTY OPEN ABOVE 24993: Sell any rally to 25100 levels.
3. NIFTY OPEN BELOW 24934: Wait for a consolidation and break below 24850 for taking short position.
4. BANK NIFTY OPEN BETWEEN 51000 -51323: No trade.
5. BANK NIFTY OPEN ABOVE 51323: Sell any rally to 51600 level and break below 51500 decisively.
6.BANK NIFTY OPEN BELOW 51000: Sell any rally to 51250 levels and break below 51100 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.
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