PRE MARKET ANALYSIS FOR NIFTY AND BANK NIFTY FOR 10 NOV 2023
10 Nov 2023
WORLD MARKETS
1. US Markets are consolidating with a negative bias.
2. Europe and Asia is very choppy with a negative bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 11 indicating decrease in volatility. Hence markets are rangebound.
2. GIFT Nify is indicating a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC Bank is consolidating with a negative bias. 1503 is still a strong resistance. 1475 is a strong support.
2. ICICI Bank is choppy between 950 - 930. Any break of these levels will give directional move to ICICI Bank.
3. Reliance has resistance at 2330 and support at 2290. Any break of these levels will give directional move to Nifty.
TRADING PLAN
1. NIFTY OPEN BETWEEN 19370 -19420 : Sell Any rally to 19450 and fall below 19400.
2. NIFTY OPEN ABOVE 19420 : Consolidation and any break above 19450 is a buy.
3. NIFTY OPEN BELOW 19370 : Sell Any rally to 19400 or any break below 19370 is a sell.
4.BANK NIFTY OPEN BETWEEN 43590 -43780 : Any dip to 43590 and move above 43700 is a buy.
5.BANK NIFTY OPEN ABOVE 43780 : Any break above 44020 is a buy. Sell Any rally to 44000 and break below 43900.
6. BANK NIFTY OPEN BELOW 43590. : Sell Any rally to 43700 and break below 43590.
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 TRADETAKEN BY THE READER.
WORLD MARKETS
1. US Markets are consolidating with a negative bias.
2. Europe and Asia is very choppy with a negative bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 11 indicating decrease in volatility. Hence markets are rangebound.
2. GIFT Nify is indicating a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC Bank is consolidating with a negative bias. 1503 is still a strong resistance. 1475 is a strong support.
2. ICICI Bank is choppy between 950 - 930. Any break of these levels will give directional move to ICICI Bank.
3. Reliance has resistance at 2330 and support at 2290. Any break of these levels will give directional move to Nifty.
TRADING PLAN
1. NIFTY OPEN BETWEEN 19370 -19420 : Sell Any rally to 19450 and fall below 19400.
2. NIFTY OPEN ABOVE 19420 : Consolidation and any break above 19450 is a buy.
3. NIFTY OPEN BELOW 19370 : Sell Any rally to 19400 or any break below 19370 is a sell.
4.BANK NIFTY OPEN BETWEEN 43590 -43780 : Any dip to 43590 and move above 43700 is a buy.
5.BANK NIFTY OPEN ABOVE 43780 : Any break above 44020 is a buy. Sell Any rally to 44000 and break below 43900.
6. BANK NIFTY OPEN BELOW 43590. : Sell Any rally to 43700 and break below 43590.
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 TRADETAKEN BY THE READER.
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