PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 15 NOV 2023

15 nov 2023

15 Nov 2023
WORLD MARKETS
1. World markets are very bullish with US markets leading the pack.
INDIA VIX AND GIFT. NIFTY
1. India VIX is steady at 11 and GIFT Nifty is indicating a 50 points uptick at 19720 levels. This amounts to 44350 levels for bank nifty.
INDEX HEAVY WEIGHTS
1. HDFC BAnk has broken out of 1503 levels. Now 1500 is a good sp for HDFC Bank. Next tgt is 1530. Bearish bets can only be taken below 1475.
2. ICICI Bank is still in a range of 930 - 950 levels.
3. Reliance has turned bullish and broken out of 2350 levels.
ANALYSIS
1. NIfty and Bank Nifty has turned bullish.
2. The trading plan should be to buy on dips. buying futures will be more benificial than options.
TRADING PLAN
1. NIFTY OPEN BETWEEN 19640 - 19700 :Buy any dip to 19600.
2.NIFTY OPEN ABOVE 19700 : Buy any dip to 19650 levels.
3. NIFTY OPEN BELOW 19640 : Wait for a break below 19600.
4.BANK NIFTY OPEN BETWEEN 44135 - 44270 : wait for a break above 44300.
5.BANK NIFTY OPEN ABOVE 44270 : Wait for a consolidation and break above 44300.
6.BANK NIFTY OPEN BELOW 44135 : Wait for a consolidation and break below 44000.
DISCLAIMER
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 TRADETAKEN BY THE READER.