Nifty Bank Indexלונג
PRE MARKET ANALYSIS FOR NIFTY AND BANK NIFTY FOR 05 JUL 2023
05 Jul 2023
WORLD MARKETS
1. US markets are neutral to bullish. While Europe and Asia is looking bearish.
GIFT NIFTY AND INDIA VIX.
1. Gift Nifty is indicating a flat start at 18 points uptick.
2. India VIX had been very volatile as a result indices had also been very volatile.
INDEX HEAVY WEIGHTS.
1. HDFC Bank has good support at 1719. Resistance is at 1737. Any break of 1719 to will be bearish. Tgt of 1710. Break of 1710 will turn bearish. Any move above 1737 will be bullish for a tgt of 1762.
2. ICICI Bank is mildly bullish. Support is at 942. Any break of 942 give us 939. Break of 947.5 will give us 954.
3. Reliance is mildly bearish . It has strong support at 2570. Any reversal from 2570 will give 2602. Break of 2560 will be bearish.
Analysis
1. After a phenomenal rally for past five days, the indices are likely to consolidate. However the indices are still bullish. But profit booking can happen.
2. Nifty is looking mildly bullish. It has support at 19350 and resistance can be seen at 19467.
3. Bank Nifty has strong support at 45100. Any break of 45000 will be bearish.
TRADING PLAN
1. Nifty open Flat : Any dip to 19350 -19320 and reversal will be a buy for a tgt of 19430.
2. Nifty open gap up : Any gap up to 19430 and break of 19460 will be bullish. However Any gap to 19430 and break below 19400 will be bearish for a tgt of 19350.
3. Bank Nifty open Flat : Any dip to 45100 - 45050 and reversal above 45100 will be bullish for a tgt of 45500.
4. Nifty open gap up: Any gap up above 45500 and and reversal below 45480 will be bearish for a tgt of 45100. Any break out of 45550 will be bullish for a tgt of 45700.
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
WORLD MARKETS
1. US markets are neutral to bullish. While Europe and Asia is looking bearish.
GIFT NIFTY AND INDIA VIX.
1. Gift Nifty is indicating a flat start at 18 points uptick.
2. India VIX had been very volatile as a result indices had also been very volatile.
INDEX HEAVY WEIGHTS.
1. HDFC Bank has good support at 1719. Resistance is at 1737. Any break of 1719 to will be bearish. Tgt of 1710. Break of 1710 will turn bearish. Any move above 1737 will be bullish for a tgt of 1762.
2. ICICI Bank is mildly bullish. Support is at 942. Any break of 942 give us 939. Break of 947.5 will give us 954.
3. Reliance is mildly bearish . It has strong support at 2570. Any reversal from 2570 will give 2602. Break of 2560 will be bearish.
Analysis
1. After a phenomenal rally for past five days, the indices are likely to consolidate. However the indices are still bullish. But profit booking can happen.
2. Nifty is looking mildly bullish. It has support at 19350 and resistance can be seen at 19467.
3. Bank Nifty has strong support at 45100. Any break of 45000 will be bearish.
TRADING PLAN
1. Nifty open Flat : Any dip to 19350 -19320 and reversal will be a buy for a tgt of 19430.
2. Nifty open gap up : Any gap up to 19430 and break of 19460 will be bullish. However Any gap to 19430 and break below 19400 will be bearish for a tgt of 19350.
3. Bank Nifty open Flat : Any dip to 45100 - 45050 and reversal above 45100 will be bullish for a tgt of 45500.
4. Nifty open gap up: Any gap up above 45500 and and reversal below 45480 will be bearish for a tgt of 45100. Any break out of 45550 will be bullish for a tgt of 45700.
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
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