PRE MARKET ANALYSIS OF NIFTY FOR 02 DEC 2024
02 DEC 2024
WORLD MARKETS
1. US and Europe markets are looking bullish. While Asia is mixed.
INDIA VIX AND GIFT NIFTY
1. INDIA VIX is down below 15 indicating decrease in volatility.
2. GIFT Nifty is indicating 100 points uptick at 100 points at 24231. This amounts to 52250 for Bank Nifty.
INDEX HEAVY WEIGHTS
1. HDFC Bank is consolidating with a bullish bias. 1778 is a good support.
2. ICICI Bank is consolidating between 1310 - 1280.
3. Reliance is trading with a negative bias. Any break of 1310 is bullish.
TRADING PLAN.
1. NIFTY OPEN BETWEEN 24203 - 24060: NO TRADE.
2.NIFTY OPEN ABOVE 24203: Wait for a consolidation and break above 24400 decisively. Alternatively Any dip to 24100, we can sell 24000 put.
3.NIFTY OPEN BELOW 24060 : Wait for a consolidation and break above 24100 and one can sell 24000 put. 24900 - 24800 is a very strong support.
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 and Europe markets are looking bullish. While Asia is mixed.
INDIA VIX AND GIFT NIFTY
1. INDIA VIX is down below 15 indicating decrease in volatility.
2. GIFT Nifty is indicating 100 points uptick at 100 points at 24231. This amounts to 52250 for Bank Nifty.
INDEX HEAVY WEIGHTS
1. HDFC Bank is consolidating with a bullish bias. 1778 is a good support.
2. ICICI Bank is consolidating between 1310 - 1280.
3. Reliance is trading with a negative bias. Any break of 1310 is bullish.
TRADING PLAN.
1. NIFTY OPEN BETWEEN 24203 - 24060: NO TRADE.
2.NIFTY OPEN ABOVE 24203: Wait for a consolidation and break above 24400 decisively. Alternatively Any dip to 24100, we can sell 24000 put.
3.NIFTY OPEN BELOW 24060 : Wait for a consolidation and break above 24100 and one can sell 24000 put. 24900 - 24800 is a very strong support.
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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