PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 14 MARCH 2024
13 march 2024
WORLD MARKETS
1. All the world markets are trading with a positive bias.
INDIA VIX AND GIFT NIFTY
1. India VIX has risen by 5 % which indicate increase in fear.
2. GIFT Nifty is indicating a flat opening with a negative bias.
INDEX HEAVY WEIGHTS
1. HDFC Bank is looking positive. 1480 is a strong resistance. Any break of this will be positive for bank nifty. 1454 is a strong support.
2. ICICI Bank today was very steady and trading neutral. 1090 is a strong resistance. Break of this will have a tgt of 1100.
3. Reliance was a major contributor for Nify fall. It is down almost 85 points. 2872 is a strong resistance. 2830 is the support.
ANALYSIS
1. Nifty fell becaues of Reliance, whereas Bank Nifty is trying to defend 47000 and Nifty 22000.
2. We need to see whether Bank Nifty defend 47000 and Nifty 22000.
3. we may see some volatility see as it is Nifty expiry.
TRADING PLAN
1. NIFTY OPEN BETWEEN 22150 - 21850 : Sell any rally to 22150 and break below 22080.
2.NIFTY OPEN ABOVE 22150 : Wait for consolidation between 22000 -22100 and a decisive break above 22150.
3. NIFTY OPEN BELOW 21850 : SELL ANY RALLY TO 22100 and break below 22000.
4.BANK NIFTY OPEN BETWEEN 47150 -46800 : Sell any rally to 47300 and break below 47000.
5. BANK NIFTY OPEN ABOVE 47150 : Wait for a consolidation and break above 47350, tgt 47700.
6. BANK NIFTY OPEN BELOW 46800 : Sell any rally to 47000 - 47150 and break below 47000.
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. All the world markets are trading with a positive bias.
INDIA VIX AND GIFT NIFTY
1. India VIX has risen by 5 % which indicate increase in fear.
2. GIFT Nifty is indicating a flat opening with a negative bias.
INDEX HEAVY WEIGHTS
1. HDFC Bank is looking positive. 1480 is a strong resistance. Any break of this will be positive for bank nifty. 1454 is a strong support.
2. ICICI Bank today was very steady and trading neutral. 1090 is a strong resistance. Break of this will have a tgt of 1100.
3. Reliance was a major contributor for Nify fall. It is down almost 85 points. 2872 is a strong resistance. 2830 is the support.
ANALYSIS
1. Nifty fell becaues of Reliance, whereas Bank Nifty is trying to defend 47000 and Nifty 22000.
2. We need to see whether Bank Nifty defend 47000 and Nifty 22000.
3. we may see some volatility see as it is Nifty expiry.
TRADING PLAN
1. NIFTY OPEN BETWEEN 22150 - 21850 : Sell any rally to 22150 and break below 22080.
2.NIFTY OPEN ABOVE 22150 : Wait for consolidation between 22000 -22100 and a decisive break above 22150.
3. NIFTY OPEN BELOW 21850 : SELL ANY RALLY TO 22100 and break below 22000.
4.BANK NIFTY OPEN BETWEEN 47150 -46800 : Sell any rally to 47300 and break below 47000.
5. BANK NIFTY OPEN ABOVE 47150 : Wait for a consolidation and break above 47350, tgt 47700.
6. BANK NIFTY OPEN BELOW 46800 : Sell any rally to 47000 - 47150 and break below 47000.
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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