Nifty Bank IndexPenjualan
PRE MARKET ANALYSIS FOR NIFTY AND BANK NIFTY FOR 010 OCT 2023
10 Oct 2023
WORLD MARKETS
1. US and Europe is looking neutral to bullish. Asia has closed with a neutral to negative note.
INDIA VIX AND GIFT NIFTY
1. India VIX has closed 10 % up above 11.4 Which is increase in the volatility and fear.
INDEX HEAVY WEIGHTS
1. HDFC Bank has closed with a 1% cut and looking bearish. 1526 is a strong resistance. There is sp at 1510. Any move above 1535 is bullish. Move below 1510 will be bearish.
2. ICICI bank is bearish on a daily chart. 934 is a strong support. 940 is a strong resistance.
3. Relaince has closed below 2300. We have to see whether it will defend 2300. Next sp is at 2288 which is 200 SMA. Probably it make take sp at 2288.
ANALYSIS
1. Wolrd markets are not spooked by the new isreal conflict. But any intensification of conflict may turn market bearish.
2. Crude oil has closed just 3.26 % UP 87 dollar a barrel well below the 100 dollar mark.
3. All three Index heavy weights are looking bearish. However Nifty is supported by IT heavy weight TCS.
TRADING PLAN
1.NIFTY OPEN BETWEEN 19543 AND 19483 : Any rally to 19550 is a sell.
2. NIFTY OPEN ABOVE 19540 : Wait for a break out above 19580 level decisively.
3.NIFTY OPEN BELOW 19480 : Sell any rally to 19500 and break below 19480 decisively.
4. BANK NIFTY OPEN BETWEEN 43973 AND 43800 : Sell Any rally to 44010.
5. BANK NIFTY OPEN ABOVE 44973 : Wait for a break out above 44110. However any weakness below 43970 is a sell.
6. BANK NIFTY OPEN BELOW 43800. Sell Any rally to 43950.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FIANANCIAL ADVISOR FOR ANY TRADE RELATED QUERY. THE AUTHOR IS NOT LIABLE FOR ANY TRADE TAKEN BY THE READER.
WORLD MARKETS
1. US and Europe is looking neutral to bullish. Asia has closed with a neutral to negative note.
INDIA VIX AND GIFT NIFTY
1. India VIX has closed 10 % up above 11.4 Which is increase in the volatility and fear.
INDEX HEAVY WEIGHTS
1. HDFC Bank has closed with a 1% cut and looking bearish. 1526 is a strong resistance. There is sp at 1510. Any move above 1535 is bullish. Move below 1510 will be bearish.
2. ICICI bank is bearish on a daily chart. 934 is a strong support. 940 is a strong resistance.
3. Relaince has closed below 2300. We have to see whether it will defend 2300. Next sp is at 2288 which is 200 SMA. Probably it make take sp at 2288.
ANALYSIS
1. Wolrd markets are not spooked by the new isreal conflict. But any intensification of conflict may turn market bearish.
2. Crude oil has closed just 3.26 % UP 87 dollar a barrel well below the 100 dollar mark.
3. All three Index heavy weights are looking bearish. However Nifty is supported by IT heavy weight TCS.
TRADING PLAN
1.NIFTY OPEN BETWEEN 19543 AND 19483 : Any rally to 19550 is a sell.
2. NIFTY OPEN ABOVE 19540 : Wait for a break out above 19580 level decisively.
3.NIFTY OPEN BELOW 19480 : Sell any rally to 19500 and break below 19480 decisively.
4. BANK NIFTY OPEN BETWEEN 43973 AND 43800 : Sell Any rally to 44010.
5. BANK NIFTY OPEN ABOVE 44973 : Wait for a break out above 44110. However any weakness below 43970 is a sell.
6. BANK NIFTY OPEN BELOW 43800. Sell Any rally to 43950.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FIANANCIAL ADVISOR FOR ANY TRADE RELATED QUERY. THE AUTHOR IS NOT LIABLE FOR ANY TRADE TAKEN BY THE READER.
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