PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 14 JUN 2024

6月13日

13 jun 2024
WORLD MARKETS
1. US markets are consolidating with a positive bias.Europe and Asia are mixed.

INDIA VIX AND GIFT NIFTY
1. India VIX is below 15 indicating less volatility and range bound move.
2. GIFT Nifty is indicating a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC Bank is consolidating with a positive bias but is very range bound. 1570 is a good support and 1595 is a resistance.
2. ICICI Bank today was down entire day and has made a long red candle. It has support at 1100 and resistance can be seen at 1125. However if 1110 is broken we may see further downside.
3. Reliance is consolidating with a positive bias. It has support at 2920 and resistance can be seen at 2950. Meaning ful move can be seen only after the break of these levels.
TRADING PLAN
1. NIFTY OPEN BETWEEN 22350 - 22435:NO trade. however small buy can be made at 23350 levels.
2. NIFTY OPEN ABOVE 23435: Wait for a consolidation and break above 23450 levels.
3. NIFTY OPEN BELOW 23350 : sell any rally to 23410.. If the break down happens below 23300, then it is a sell.
4.BANK NIFTY OPEN BETWEEN 49952 -49740: No trade.
5.BANK NIFTY OPEN ABOVE 49952: Wait for a consolidation and break above 50060 levels.
6.BANK NIFTY OPEN BELOW 49750: Sell any rally to 49950.

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.