PRE MARKET ANALYSIS OF NIFTY FOR 17 DEC 2024

16 DEC 2024
WORLD MARKETS
1. All the world markets are looking bullish.
INDIA VIX AND GIFT NIFTY
1. GIFT Nifty is indicating a flat opening.
2. INDIA VIX is up 7% and is above 14 indicating increase in volatility.
INDEX HEAVY WEIGHTS
1. HDFC Bank is bullish with huge volatility. 1896 is the next target.
2. ICICI bank is also bullish with 1355 as the resistance.
ANALYSIS
1. With Reliance and IT being bearish and Bank Nifty bullish, Nifty may remain range bound in this expiry.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24718 - 24619: No Trade.
2. NIFTY OPEN ABOVE 24718: Wait for a consolidation and break above 24760.
3. NIFTY OPEN BELOW 24618: Wait for a consolidationbetween 24500 - 24600 and break above 24625 .

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.