PRE Market analysis for nifty and bank nifty for 16 aug 2023

2023年8月15日

16 AUG 2023
WORLD MARKETS
1. US markets are consolidating with a bullish bias.
2. Asian markets are consolidating with a bearish bias. Europe is neutral.
INDIA VIX AND GIFT NIFTY
1. India VIX has reached 12 indicating heightened fear and bearishness.
2. GIFT Nifty is indicating again a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC Bank has made a hammer pattern. It has strong resistance at 1615.7 levels. Any break of this will be bullish.If it open below 1607, sell any any pull back to 1607. Buy above 1620 levels. sell below 1600 levels.
2. ICICI Bank has pulled back from 948 levels.957is a strong support. Any dip to 957 is a buy. If open below 955 sell for a tgt of 948.
3. Reliance is fully bullish. If open is above 2592, it is a buy. if open is below 2590, Buy Any dip to 2561 and sell any rally to 2590. Any move below 2545 is a sell.
ANALYSIS
1. Indices are at a crucial level of 19400 and 44000 respectively.
2. World markets are neutral.
3. There are no events to trigger.
4. market may remain range bound.
TRADING PLAN
1. NIFTY OPEN FLAT;: If open is between 19400 - 19500, sell any rally to 19500. Buy any dip to 19400.
2.NIFTY OPEN GAP UP: Any gap up above 19500 is bullish for a tgt of 19550.
3.NIFTY OPEN GAP DOWN: Any move below 19370 is a sell.
4. BANK NIFTY OPEN FLAT: Any rally to 44200 is a sell. Any dip to 44970 is a buy.
5. BANK NIFTY OPEN GAP UP: Any gap up above 44200 is a buy after it pull back to 44200 and stabilise for some time.
6. BANK NIFTY OPEN GAP DOWN: Any gap down below 43970 is a sell if bank nifty rally to 44000 and falls below 43950. tgt 43700.
I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATION PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVISOR FOR ANY TRADE RELATED QUERY.