PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 19 JUL 2024
19 Jul 2024
WORLD MARKETS
1. All the world markets are looking neutral with a bearish bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is nearing 15 indicating increase in volatility as the budget nears.
2.GIFT Nifty is indicating a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC Bank has resistance at 1626 and support at 1608.
2. ICICI Bank has resistance at 1250 and support at 1230.
3. Reliance has support at 3110 and resistance at 3190.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24708 - 24888: Buy any dip to 24600 levels.
2. NIFTY OPEN ABOVE 24888: Wait for a dip to 24700.
3.NIFTY OPEN BELOW 24708: Wait for a consolidation between 24600 - 24700 and break above 24708.
4. BANK NIFTY OPEN BETWEEN 52558 - 52790 : Any consolidation between 52450 - 52550 and break above 52600 is a buy.
5.BANK NIFTY OPEN ABOVE 52800: Wait for a dip to 52600.
6. BANK NIFTY OPEN BELOW 52450: Wait for a consolidation and break above 52500. If it break below 52250, then sell.
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. All the world markets are looking neutral with a bearish bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is nearing 15 indicating increase in volatility as the budget nears.
2.GIFT Nifty is indicating a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC Bank has resistance at 1626 and support at 1608.
2. ICICI Bank has resistance at 1250 and support at 1230.
3. Reliance has support at 3110 and resistance at 3190.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24708 - 24888: Buy any dip to 24600 levels.
2. NIFTY OPEN ABOVE 24888: Wait for a dip to 24700.
3.NIFTY OPEN BELOW 24708: Wait for a consolidation between 24600 - 24700 and break above 24708.
4. BANK NIFTY OPEN BETWEEN 52558 - 52790 : Any consolidation between 52450 - 52550 and break above 52600 is a buy.
5.BANK NIFTY OPEN ABOVE 52800: Wait for a dip to 52600.
6. BANK NIFTY OPEN BELOW 52450: Wait for a consolidation and break above 52500. If it break below 52250, then sell.
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.
כתב ויתור
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