PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 29 DEC 2023.
29 Dec 2023
WISHING EVERY ONE A VERY HAPPY NEW YEAR IN ADVANCE
WORLD MARKETS
1. US and Europe Markets are looking overstretched . Asia is looking bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX crashed 2.68% to 15. But it is still high.
2. GIFT Nifty is indicating a 22 point uptick at 21800.
INDEX HEAVY WEIGHTS
1. HDFC Bank has made a doji indicating exhaustaion. we have to see if this will get cancelled.
2. ICICI Bank has resistance at 1014 and Sp at 990 . Any break of these levels will give direction to Bank nifty.
3. Reliance is looking very bullish. It is likely to test 2630 levels.
ANALYSIS
1. VIX is at very high level.
2. There is only one day left for the trading day of 2023.
3. HDFC Bank and ICICI Bank are moving in opposite direction making directional move difficult for Bank Nifty.
4. However Nifty is finding direction supported by Reliance.
TRADING PLAN
1. NIFTY OPEN BETWEEN 21811-21745 : No trade.
2. NIFTY OPEN ABOVE 21811: Wait for consolidation at 21811 and break out above 21835.
3.NIFTY OPEN BELOW 21740: Wait for a consolidation and break below 21700.
4. BANK NIFTY OPEN BETWEEN 48420 - 48600 : No trade.
5. BANK NIFTY OPEN ABOVE 48600 : Wait for a break out above 48675.
6. BANK NIFTY OPEN BELOW 48430 : Wait for a consolidation and break below 48350.
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.
WISHING EVERY ONE A VERY HAPPY NEW YEAR IN ADVANCE
WORLD MARKETS
1. US and Europe Markets are looking overstretched . Asia is looking bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX crashed 2.68% to 15. But it is still high.
2. GIFT Nifty is indicating a 22 point uptick at 21800.
INDEX HEAVY WEIGHTS
1. HDFC Bank has made a doji indicating exhaustaion. we have to see if this will get cancelled.
2. ICICI Bank has resistance at 1014 and Sp at 990 . Any break of these levels will give direction to Bank nifty.
3. Reliance is looking very bullish. It is likely to test 2630 levels.
ANALYSIS
1. VIX is at very high level.
2. There is only one day left for the trading day of 2023.
3. HDFC Bank and ICICI Bank are moving in opposite direction making directional move difficult for Bank Nifty.
4. However Nifty is finding direction supported by Reliance.
TRADING PLAN
1. NIFTY OPEN BETWEEN 21811-21745 : No trade.
2. NIFTY OPEN ABOVE 21811: Wait for consolidation at 21811 and break out above 21835.
3.NIFTY OPEN BELOW 21740: Wait for a consolidation and break below 21700.
4. BANK NIFTY OPEN BETWEEN 48420 - 48600 : No trade.
5. BANK NIFTY OPEN ABOVE 48600 : Wait for a break out above 48675.
6. BANK NIFTY OPEN BELOW 48430 : Wait for a consolidation and break below 48350.
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.
Disclaimer
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