PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 01 SEP 2023

2023年8月31日

01 Sep 2023
WORLD MARKETS
1. World markets are looking bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX is at 12 indicating resumption of volatility.
2. GIFT Nifty is indicating 50 points down tick at 19200. This amounts to 44000 level for bank nifty.
INDEX HEAVY WEIGHTS
1. HDFC BANK : HDFC Bank has taken sp at 1566. Any break of 1566 give us 1560 -1551. Any gap up above 1584 is bullish.
2. ICICI Bank traded in a range 965-955. Any break above 965 is a bullish sign. 950 is a strong sp. However any reversal from 965 will be bearish.
3. Reliance is at crucial sp of 2400 -2375. It can turn bullish above 2437.5. Any rally to 2420 and reversal is a sell tgt 2400.
ANALYSIS
1. Wold markets are positive and bullish. Indian indicies are bearish. Nifty is at crucial sp of 19200. If it break it, next tgt will be 19000. Bank Nifty is also bearish and heading towards 43000 levels.
TRADING PLAN
1. NIFTY OPEN BETWEEN 19300 - 19208 LEVELS.: Any rally to 19325 and break below 19300 is a sell.
2. NIFTY OPEN ABOVE 19300 : Any decisive break out from 19325 is a buy.
3. NIFTY OPEN BELOW 19200 : Any rally to 19220 is a sell.
4.BANK NIFTY OPEN BETWEEN 44130 - 43850 : Any rally to 44130 - 44200 is a sell.
5. BANK NIFTY OPEN ABOVE 44130: Any break of 44360 is a buy.
6. BANK NIFTY OPEN BELOW 43852: Any rally to 44000 is a sell. Tgt 43700.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVISOR FOR ANY TRADE RELATED QUERY.