PRE MARKET ANALYSIS FOR NIFTY AND BANK NIFTY FOR 13 NOV 2023
13 Nov 2023
WORLD MARKETS
1. US has broken out of head and shoulder neck on upside.
2. Europe and Asia is consolidating with a bullish bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is steady at 11.
2. GIFT NIfty is indicating 120 points uptick at 19550 Spot.
INDEX HEAVY WEIGHTS
1.HDFC Bank is consolidating in a narrow range of 1475 - 1503.
2. ICICI bank has strong sp at 930. While 950 remains a stong resistance. It is trading with a bullish bias.
3. Relaince has strong sp at 2290 - 2450 is a strong resistance. It is trading with a bullish bias.
ANALYSIS
1. Moody's have turned negative on US markets due to higher interest rates, which will have impact on the debt of the companies.
2. We have to see what impact it will have on US markets on Monday.
3. Every day market is either gapping up or down give less move in intra day with a range bound move which is difficult to trade with 50 - 70 points profit margin. Also these movements are fast so difficult to catch.
4. This is bascially a option seller market. It is best to concentrate on individual stock for some time.
TRADING PLAN
1.NIFTY OPEN BETWEEEN 19460 - 14390 : Any dip to 19400 is a buy.
2. NIFTY OPEN ABOVE 19460 : Any dip to 19420 is a buy.
3. NIFTY OPEN BELOW 19392 : Any move below 19350 is a sell.
4. BANK NIFTY OPEN BETWEEN 43931- 43707 : Any dip to 43700 is a buy.
5. BANK NIFTY OPEN ABOVE 43931: Wait for a consolidation and break above 44020. Tgt 44250. Buy any dip to 43800.
6. BANK NIFTY OPEN BELOW 43700 : Sell any move below 43500.
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.
WORLD MARKETS
1. US has broken out of head and shoulder neck on upside.
2. Europe and Asia is consolidating with a bullish bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is steady at 11.
2. GIFT NIfty is indicating 120 points uptick at 19550 Spot.
INDEX HEAVY WEIGHTS
1.HDFC Bank is consolidating in a narrow range of 1475 - 1503.
2. ICICI bank has strong sp at 930. While 950 remains a stong resistance. It is trading with a bullish bias.
3. Relaince has strong sp at 2290 - 2450 is a strong resistance. It is trading with a bullish bias.
ANALYSIS
1. Moody's have turned negative on US markets due to higher interest rates, which will have impact on the debt of the companies.
2. We have to see what impact it will have on US markets on Monday.
3. Every day market is either gapping up or down give less move in intra day with a range bound move which is difficult to trade with 50 - 70 points profit margin. Also these movements are fast so difficult to catch.
4. This is bascially a option seller market. It is best to concentrate on individual stock for some time.
TRADING PLAN
1.NIFTY OPEN BETWEEEN 19460 - 14390 : Any dip to 19400 is a buy.
2. NIFTY OPEN ABOVE 19460 : Any dip to 19420 is a buy.
3. NIFTY OPEN BELOW 19392 : Any move below 19350 is a sell.
4. BANK NIFTY OPEN BETWEEN 43931- 43707 : Any dip to 43700 is a buy.
5. BANK NIFTY OPEN ABOVE 43931: Wait for a consolidation and break above 44020. Tgt 44250. Buy any dip to 43800.
6. BANK NIFTY OPEN BELOW 43700 : Sell any move below 43500.
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.
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