PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 14 SEP 2023

2023年9月13日

14 Sep 2023
WORLD MARKETS
1. World markets are consolidating with a bearish bias.
2. USA is going to come up with core inflation rate today evening. Any increase in inflation will be a dampner.
INDIA VIX AND GIFT NIFTY
1. India VIX is well below the comfort zone of 12.
2. GIFT Nift is indicating a flat opening at 20050.
INDEX HEAVY WEIGHTS
1. HDFC Bank is bullish. Any dip to 1640 levels is a buy. Bearish bets can be taken below 1630 levels.
2. ICICI Bank is also bullish. It has good support at 980, whereas 994 is a resistance. Any break of 994 , ICICI Bank will test all time high taking nifty along with it.
3. Relaince is looking neutral to bearish. While 2430 is a good support Any break of 2425 will be bearish.
4. IT is on fire and supporting Nifty inspite of underperformance of Reliance.
ANALYSIS
1. We Have a major news of US inflation rate tonight. How US markets beheave is required to be seen.
2. Indices is very bullish and buy on dips will be a good strategy.
3. Include trend following strategy in your trade.
TRADING PLAN
1.NIFTY OPEN BETWEEN 20110 -20030: Buy Any dip to 20000.
NIFTY OPEN ABOVE 20110 : Buy Any dip to 20050.
NIFTY OPEN BELOW 20020: Wait for Nifty to break below 19950 levels and Any rally to 20000 will be a sell.
BANK NIFTY OPEN BETWEEN 46100-45715: Any dip to 45700 is a buy.
BANK NIFTY OPEN ABOVE 46110: Any dip to 45900 is a buy.
BANK NIFTY OPEN BELOW 45710 : Wait for a break down below 45500 to sell or buy above 45900.

DISCLAIMER
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. THE ORGINATOR OF THIS ARTICLE HOLDS NO LIABILITY FOR ANY TRADES TAKEN BY YOU.