PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 06 JUN 22024
06 JUN 2024
WORLD MARKETS
1. World Markets are consolidating with a negative bias.
INDIA VIX AND GIFT NIFTY
1. As explained the India VIX crashed 27% at 18.8 which is below 20. This is a comfortable VIX to trade.
2. However the VIX may stay at elevated levels till 08 Jun 2024.
2. GIFT Nifty is indicating 137 points uptick at 22639.
INDEX HEAVY WEIGHTS
1. NIFTY OPEN BETWEEN 22365 - 22877: Buy any dip and move above 22500.
2. NIFTY OPEN ABOVE 22877 : Buy any dip 22650.
3.NIFTY OPEN BELOW 22365: Sell any rally to 22500.
4.BANK NIFTY OPEN BETWEEN 49850 - 48250: Buy any dip to 48400.
5. BANK NIFTY OPEN ABOVE 49850 : Buy any consolidation and break above 49900.
6.BANK NIFTY OPEN BELOW 48250 : Sell any rally to 48500 and break below 48250 decisively.
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. World Markets are consolidating with a negative bias.
INDIA VIX AND GIFT NIFTY
1. As explained the India VIX crashed 27% at 18.8 which is below 20. This is a comfortable VIX to trade.
2. However the VIX may stay at elevated levels till 08 Jun 2024.
2. GIFT Nifty is indicating 137 points uptick at 22639.
INDEX HEAVY WEIGHTS
1. NIFTY OPEN BETWEEN 22365 - 22877: Buy any dip and move above 22500.
2. NIFTY OPEN ABOVE 22877 : Buy any dip 22650.
3.NIFTY OPEN BELOW 22365: Sell any rally to 22500.
4.BANK NIFTY OPEN BETWEEN 49850 - 48250: Buy any dip to 48400.
5. BANK NIFTY OPEN ABOVE 49850 : Buy any consolidation and break above 49900.
6.BANK NIFTY OPEN BELOW 48250 : Sell any rally to 48500 and break below 48250 decisively.
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.