PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 25 JAN 2024
25 JAN 2024
WORLD MARKETS
1. US Markets are looking over bought.
2. Asia and Europe is looking mixed.
INDIA VIX AND GIFT NIFTY
1. India VIX is looking bullish as per the technical chart.
2. GIFT Nifty is looking flat with a 28 point uptick.
INDEX HEAVY WEIGHTS
1. HDFC Bank has closed above 200 SMA on weekly chart and has made a hammer pattern. Also it is looking over sold on daily chart. We may see some bounce in HDFC BAnk.
2. ICICI Bank on the other hand has made two bearish big candle. It has support at 995. If it breaks then next support is at 965.
3. Reliance has taken sp at 2650 which is 20 SMA. It is looking bullish.
ANALYSIS
1. Tomorrow is Nifty expiry. So index may get volatile.
2. Reliance is bullish.
3. The move of nifty and Bank Nifty depends upon HDFC Bank and ICICI Bank moving to gether whether up or Down.
TRADING PLAN.
1. NIFTY OPEN BETWEEN 21360 - 21550 : NO TRADE.
2.NIFTY OPEN ABOVE 21550 : Buy any consolidation and break out between 21480 - 21550.
3. NIFTY OPEN BELOW 21360 : Sell any consolidation and break below 21250.
4. BANK NIFTY OPEN BETWEEN 44800 - 45360 : No Trade.
5.BANK NIFTY OPEN ABOVE 45360 : Buy any consolidation between 45400 and break above 45630.
6. BANK NIFTY OPEN BELOW 44800 : Wait for a consolidation and break below 44450.
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. US Markets are looking over bought.
2. Asia and Europe is looking mixed.
INDIA VIX AND GIFT NIFTY
1. India VIX is looking bullish as per the technical chart.
2. GIFT Nifty is looking flat with a 28 point uptick.
INDEX HEAVY WEIGHTS
1. HDFC Bank has closed above 200 SMA on weekly chart and has made a hammer pattern. Also it is looking over sold on daily chart. We may see some bounce in HDFC BAnk.
2. ICICI Bank on the other hand has made two bearish big candle. It has support at 995. If it breaks then next support is at 965.
3. Reliance has taken sp at 2650 which is 20 SMA. It is looking bullish.
ANALYSIS
1. Tomorrow is Nifty expiry. So index may get volatile.
2. Reliance is bullish.
3. The move of nifty and Bank Nifty depends upon HDFC Bank and ICICI Bank moving to gether whether up or Down.
TRADING PLAN.
1. NIFTY OPEN BETWEEN 21360 - 21550 : NO TRADE.
2.NIFTY OPEN ABOVE 21550 : Buy any consolidation and break out between 21480 - 21550.
3. NIFTY OPEN BELOW 21360 : Sell any consolidation and break below 21250.
4. BANK NIFTY OPEN BETWEEN 44800 - 45360 : No Trade.
5.BANK NIFTY OPEN ABOVE 45360 : Buy any consolidation between 45400 and break above 45630.
6. BANK NIFTY OPEN BELOW 44800 : Wait for a consolidation and break below 44450.
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.
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