PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 19 FEB 2024

19 ก.พ.

19 feb 2024
WORLD MARKETS
1. World markets are consolidating with a bullish bias.
INDIA IX AND GIFT NIFTY
1. India VIX is at 15 indicating reduction in volatility.
2. GIFT Nifty is indicating a a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC BANK is looking bullish. It has resistance at 1440. Any break of this will be bullish.
2. ICICI Bank is also looking bullish. Any open above 1026 will be bullish.
3. RELIANCE is consolidating with a negative bias. Any open above 2950 will be bullish.
ANALYSIS
1. Indices are all looking bullish.
2. Nifty is trading above 22000 and bank nifty above 46000.
3. However Nifty need to clear 22150 to be full bullish and bank nifty above 46500.
TRADING PLAN
1. NIFTY OPEN BETWEEN22038 - 22068: Buy any dip to 22000.
NIFTY OPEN ABOVE 22068: Wait for a consolidation and break above 22100.
NIFTY OPEN BELOW 22013: Wait for a break below 21950.
4.BANK NIFTY OPEN BETWEEN 46500 - 46265: NO TRADE.
5. BANK NIFTY OPEN ABOVE 46500 : Wait for a consolidation and break above 46600.
6.BANK NIFTY OPEN BELOW 46265: Wait for a consolidation and break below 46150.
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.