PRE MARKET ANALYSIS OF BANK NIFTY AND NIFTY FOR 20 SEP 2023
20 Sep 2023
WORLD MARKETS
1. World markets are looking neutral to bearish.
2. US markets and Europe are bearish while Asia is mixed.
INDIA VIX AND GIFT NIFTY
1. india VIX is below 11 and GIFT Nifty is indiacating 41 points down tick at 2080 levels. This amounts to 120 points down tick at 45850 levels.
INDEX HEAVY WEIGHTS
1. HDFC Bank has strong sp at 1630 levels. However it has closed below 1630. Any pull back above 1630 will be positive. 1645 is a strong resistance.
2. ICICI Bank is consolidating between 985 -1002 levels. Any break of 999 will be bullish.
3. Reliance has good sp between 2425 - 2430. Break of 2425 will be bearish. 2445 will be a strong resistance.
ANALYSIS
1. World markets are looking tired and without any news.
2. It is waiting for the fed rate decision to be announced on 20 sep 2023.
3. HDFC Bank has pulled back while ICICI Bank is looking bullish.
4. TOMORROW IS BANK NIFTY EXPIRY AND MAY TRADE INA RANGE.
TRADING PLAN
1.NIFTY OPEN BETWEEN 20110 - 20154: Any sp at 20090 and reversal is a good buying opportunity.However Any rally to 20200 is a sell.
2.NIFTY OPEN ABOVE 20150 : Any decisive break of 20180 is bullish for a tgt of 20210.
3. NIFTY OPEN BELOW 20080: Any rally to 20100 is a sell.
4. BANK NIFTY OPEN BETWEEN 45880 - 46075: Any rally to 46100 is a sell.
5.BANK NIFTY OPEN ABOVE 46080: Any decisive break of 46200 is a buy for a tgt of 46400.
6. BANK NIFTY OPEN BELOW 45880 : Any rally to 45950 will be a sell for a tgt of 45550.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORAMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVISOR FOR ANY TRADE RELATED QUERY. THE AUTHOR WILL NOT BE RESPONSIBLE FOR ANY TRADE TAKEN BY THE READER.
WORLD MARKETS
1. World markets are looking neutral to bearish.
2. US markets and Europe are bearish while Asia is mixed.
INDIA VIX AND GIFT NIFTY
1. india VIX is below 11 and GIFT Nifty is indiacating 41 points down tick at 2080 levels. This amounts to 120 points down tick at 45850 levels.
INDEX HEAVY WEIGHTS
1. HDFC Bank has strong sp at 1630 levels. However it has closed below 1630. Any pull back above 1630 will be positive. 1645 is a strong resistance.
2. ICICI Bank is consolidating between 985 -1002 levels. Any break of 999 will be bullish.
3. Reliance has good sp between 2425 - 2430. Break of 2425 will be bearish. 2445 will be a strong resistance.
ANALYSIS
1. World markets are looking tired and without any news.
2. It is waiting for the fed rate decision to be announced on 20 sep 2023.
3. HDFC Bank has pulled back while ICICI Bank is looking bullish.
4. TOMORROW IS BANK NIFTY EXPIRY AND MAY TRADE INA RANGE.
TRADING PLAN
1.NIFTY OPEN BETWEEN 20110 - 20154: Any sp at 20090 and reversal is a good buying opportunity.However Any rally to 20200 is a sell.
2.NIFTY OPEN ABOVE 20150 : Any decisive break of 20180 is bullish for a tgt of 20210.
3. NIFTY OPEN BELOW 20080: Any rally to 20100 is a sell.
4. BANK NIFTY OPEN BETWEEN 45880 - 46075: Any rally to 46100 is a sell.
5.BANK NIFTY OPEN ABOVE 46080: Any decisive break of 46200 is a buy for a tgt of 46400.
6. BANK NIFTY OPEN BELOW 45880 : Any rally to 45950 will be a sell for a tgt of 45550.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORAMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVISOR FOR ANY TRADE RELATED QUERY. THE AUTHOR WILL NOT BE RESPONSIBLE FOR ANY TRADE TAKEN BY THE READER.
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