PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 15 FEB 2024
15 FEB 2024
WORLD MARKETS
1. US markets have recovered from yesterday gap down.
2. Europe and Asia is consolidating with a positive bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is at 15.4 down 2.3 % which is good.
2. GIFT Nifty is indicating 60 points uptick at 21930 future.
INDEX HEAVY WEIGHTS
1. HDFC BANK looks over sold. We may see some upside till 1400. However it has multiple resistance at 1400,1415 and 1440. Only once 1440 is cleared, we can see some momentum buildig up in HDFC Bank.
2. ICICI bank on the other hand is choppy and consolidating in a range of 1000 - 1035 with positive bias.
3. Reliance has turned bullish and is trading above 2950 level.
ANALYSIS
1. Market made a remarkable move from 44900 to 46170 which is a thousand point move.
2. However Nifty was not that positive.
3. However Nifty is trading at 21840 which is a crucial level. So we may see some good rally in Nifty as Bank nifty has rallied today.
TRADING PLAN :
1. NIFTY OPEN BETWEEN 21750 - 21935 : Buy any dip to 21700 and move above 21750 Tgt of 21940.
2. NIFTY OPEN ABOVE 21935 : Wait for a dip to 21800 levels for initating buying.
3.NIFTY OPEN BELOW 21740 : Buy any consolidation between 21700 - 21750 and move above 21750 .
4.BANK NIFTY OPEN BETWEEN 45550 -46270 : Buy any dip to 45500.
5. BANK NIFTY OPEN ABOVE 46170 : Buy any dip to 46000.
6. BANK NIFTY OPEN BELOW 45500 : Wait for a consolidation between 45500 - 45200 and buy if break out is above 45700 and sell if break down is below 44850.
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. US markets have recovered from yesterday gap down.
2. Europe and Asia is consolidating with a positive bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is at 15.4 down 2.3 % which is good.
2. GIFT Nifty is indicating 60 points uptick at 21930 future.
INDEX HEAVY WEIGHTS
1. HDFC BANK looks over sold. We may see some upside till 1400. However it has multiple resistance at 1400,1415 and 1440. Only once 1440 is cleared, we can see some momentum buildig up in HDFC Bank.
2. ICICI bank on the other hand is choppy and consolidating in a range of 1000 - 1035 with positive bias.
3. Reliance has turned bullish and is trading above 2950 level.
ANALYSIS
1. Market made a remarkable move from 44900 to 46170 which is a thousand point move.
2. However Nifty was not that positive.
3. However Nifty is trading at 21840 which is a crucial level. So we may see some good rally in Nifty as Bank nifty has rallied today.
TRADING PLAN :
1. NIFTY OPEN BETWEEN 21750 - 21935 : Buy any dip to 21700 and move above 21750 Tgt of 21940.
2. NIFTY OPEN ABOVE 21935 : Wait for a dip to 21800 levels for initating buying.
3.NIFTY OPEN BELOW 21740 : Buy any consolidation between 21700 - 21750 and move above 21750 .
4.BANK NIFTY OPEN BETWEEN 45550 -46270 : Buy any dip to 45500.
5. BANK NIFTY OPEN ABOVE 46170 : Buy any dip to 46000.
6. BANK NIFTY OPEN BELOW 45500 : Wait for a consolidation between 45500 - 45200 and buy if break out is above 45700 and sell if break down is below 44850.
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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