PRE MARKET ANALYSIS FOR NIFTY AND BANK NIFTY FOR 13 JUL 2023

12. Juli 2023

13 JUL 2023
WORLD MARKETS
1. All the world markets are looking bullish with 1.0 - 1.5% gain.
INDIA VIX AND GIFT NIFTY
1. India VIX has come dow below 11.
2. GIFT Nifty is indicating 102 points uptick at 19568 and that spot at 19485. This amounts to 44900 for bank nifty.
INDEX HEAVY WEIGHTS
1. HDFC Bank has a strong resistance at 1654. Any break of 1654 will give us 1670. It has strong support at 1620.
2. ICICI Bank has strong resistance at 947. Any break of 941 will be bearish.
3. Reliance has strong support 2757.Resistance can be seen at 2780.
Analysis
1. world markets are looking very bullish with 1.0 - 2 % uptick.
2. GIFT Nifty is indicating 100 points uptick at 19480.
3. Post TCS and HCL TECH results markets may look for fresh clues.
TRADING PLAN
1. NIFTY OPEN GAP UP : Any move above 19530 will be bullish. Any weakness below 19400 will be bearish.
2. NIFTY OPEN FLAT : Any weakness below 19400 will bea bearish.
3. NIFTY OPEN GAP DOWN: Any gap down below 19340 will be bearish for a tgt of 19250.
4. BANK NIFTY OPEN GAP UP : Any move above 45020 will be bullish. Any weakness below 49740 will be bearish. There will be no trade between 44800 - 45020.
5. BANK NIFTY GAP DOWN: Any gap down below 44500 and consolidation is a buy with a tgt of 44800.
6. BANK NIFTY OPEN FLAT: Any move to 44900 and reversal below 44800 is a sell for a tgt of 44500.
I AM NOT A SEBI REGISTERED TRADER.THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVISOR FOR ANY TRADE RELATED QUERY.