PRE MARKET ANALYSIS FOR NIFTY AND BANK NIFTY FOR 17 OCT 2023
17 Oct 2023
WORLD MARKETS
1. US are trading in a range and with a positive bias. It is choppy.
2. Europe has turned bearsih with 1.4 % cut.
3. Asia is trading with a negative bias and choppy.
INDIA VIX AND GIFT NIFTY
1. India VIX is at 11 indicating increased volatility but range bound.
2. GIFT Nifty is indicating a 40 points uptick at 19770 an d Bank Nifty at 44350.
INDEX HEAVY WEIGHTS
1. HDFC Bank was choppy because of quarterly results. Any decisive break above 1537 is bullish. The quarterly result is as per expected result. Any break below 1520 is bearish.
2. ICICI Bank can turn bullish above 960. Any break below 945 is bearish.
3. Relaince is bullish above 2355. Any move below 2334 is bearish.
TRADING PLAN
1. NIFTY OPEN BETWEEN 19736 - 19708 : Any rally to 19780 is a sell.
2. NIFTY OPEN ABOVE 19735 : Wait for a break above 19800.
3.NIFTY OPEN BELOW 19709: Wait for a break below 19685.
4.BANK NIFTY OPEN BETWEEN 44314 - 44135 : Any rally to 44500 is a sell.
5. BANK NIFTY OPEN ABOVE 44320 : Wait for a break above 44500.
6.BANK NIFTY OPEN BELOW 44135: Wait for a break below 43900.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVIOSR FOR ANY TRADE RELATED QUERY. THE AUTHOR HOLD NO LIABILITY FOR ANY TRADE TAKEN BY THE REader.
WORLD MARKETS
1. US are trading in a range and with a positive bias. It is choppy.
2. Europe has turned bearsih with 1.4 % cut.
3. Asia is trading with a negative bias and choppy.
INDIA VIX AND GIFT NIFTY
1. India VIX is at 11 indicating increased volatility but range bound.
2. GIFT Nifty is indicating a 40 points uptick at 19770 an d Bank Nifty at 44350.
INDEX HEAVY WEIGHTS
1. HDFC Bank was choppy because of quarterly results. Any decisive break above 1537 is bullish. The quarterly result is as per expected result. Any break below 1520 is bearish.
2. ICICI Bank can turn bullish above 960. Any break below 945 is bearish.
3. Relaince is bullish above 2355. Any move below 2334 is bearish.
TRADING PLAN
1. NIFTY OPEN BETWEEN 19736 - 19708 : Any rally to 19780 is a sell.
2. NIFTY OPEN ABOVE 19735 : Wait for a break above 19800.
3.NIFTY OPEN BELOW 19709: Wait for a break below 19685.
4.BANK NIFTY OPEN BETWEEN 44314 - 44135 : Any rally to 44500 is a sell.
5. BANK NIFTY OPEN ABOVE 44320 : Wait for a break above 44500.
6.BANK NIFTY OPEN BELOW 44135: Wait for a break below 43900.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVIOSR FOR ANY TRADE RELATED QUERY. THE AUTHOR HOLD NO LIABILITY FOR ANY TRADE TAKEN BY THE REader.
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