Nifty PreMarket Analysis : 16 Oct'23 NseMcxTalks
Strategy : Trend Lines and Support /Resistance
Support : 19680
Resistance 19860
Entry levels:
Today Nifty might open flat with a bearish bias.
The range of trade expected to be in the range of 19680 to 19840.
Buy above 19860/or bounce from 19680 for Targets of 19900 19940
Sell if the Trendline is breached for downsides upto 19630 19560 and 19500
Important Events:
Today, we have a results announcement of the HDFC Bank. This will be
the first Quarterly results announcement of HDFC Bank after the merger of the HDFC bank with its parent HDFC arm.
The market expectation is upbeat on HDFC bank and expects a 30 plus percentage yoy.
But, there will always be a teething issues during any merger and it requires a
quarter, if not two to iron out these and to get the operations and financials optimised.
These are my Nifty Premarket analysis and refer my Trade updates in Ideas/minds.
Disclaimer: For Educational purposes. Not recommendations.
Hit Like and Follow for update notifications.
Support : 19680
Resistance 19860
Entry levels:
Today Nifty might open flat with a bearish bias.
The range of trade expected to be in the range of 19680 to 19840.
Buy above 19860/or bounce from 19680 for Targets of 19900 19940
Sell if the Trendline is breached for downsides upto 19630 19560 and 19500
Important Events:
Today, we have a results announcement of the HDFC Bank. This will be
the first Quarterly results announcement of HDFC Bank after the merger of the HDFC bank with its parent HDFC arm.
The market expectation is upbeat on HDFC bank and expects a 30 plus percentage yoy.
But, there will always be a teething issues during any merger and it requires a
quarter, if not two to iron out these and to get the operations and financials optimised.
These are my Nifty Premarket analysis and refer my Trade updates in Ideas/minds.
Disclaimer: For Educational purposes. Not recommendations.
Hit Like and Follow for update notifications.
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