PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 26 JUL 2023

25 juil. 2023

26 Jul 2023
WORLD MARKETS
1. World markets are looking subdued with a positive bias.
INDIA VIX AND GIFY NIFTY
1. india VIX is below 11 @ 10.2 down 12%. This indicates neutral to bullishness stance for indices.
2. GIFT Nifty is indicating 32 points uptick at 19680 spot. This will be a flat start.
INDEX HEAVY WEIGHTS
1. HDFC Bank is looking bullish. Any move to 1690 is a good buying opportunity.
2. ICICI Bank is mildly bullish. It has strong resistance at 998. Any break of 998 is bullish.
3. Reliance is looking neutral with a bearish bias. Any break below 2470 is bearish. Any move above 2500 is bullish.
ANALYSIS
1. Indices are still looking bullish.
2. Index heavy weight HDFC Bank and ICICI bank is looking bullish. Reliance is looking neutral to bullish.
3. IT pack is looking neutral to bullish.
TRADING PLAN
1. NIFTY OPEN FLAT : Wait for a break out above 19750 or below 19600.
2. NIFTY OPEN GAP UP: Any gap up above 19700, wait for a break out above 19750. Tgt is 19800 and above.
3.NIFTY OPEN GAP DOWN: Any gap down below 19640, wait for the indices to break down below 19600, Tgt is 19500 - 19300.
4.BANK NIFTY OPEN FLAT: Any break out of 46125 is bullish. Any break down of 45540 is bearish. Any rally to 46050 and weakness is a sell for a tgt of 45700.
5. BANK NIFTY GAP UP: Any gap up above 46050, wait for a break out to happen above 46125 and then go long. Tgt 46400.
6. BANK NIFTY BREAK DOWN: Any break below 45600 is bearish for a tgt of 45300.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSE ONLY PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVISOR FOR ANY TRADE RELATED QUERIES.