PRE MARKET ANALYSIS FOR NIFTY AN DBANK NIFTY FOR 20 NOV 2023
20 Nov 2023
WOLRD MARKETS
1. All the world Indices are looking bullish. US and Europe are consolidating with a bullish bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is near 12 indicating increased fear and volatility.
2. GIFT Nifty is indicating a 26 points uptick at 19750.
INDEX HEAVY WEIGHTS
1. HDFC Bank opened below 1490 and has closed above 1505. It is looking bullish.
2. ICICI BAnk on the other hand has closed below 200 SMA and is looking very bearish.
3. Reliance is looking bullish. it has managed to hold above 2350.
ANALYSIS
1. The RBI announcement of additional security for retail lending has spooked NBFC. and Banks.So the hang over may remain for few days. The Bank closed 577 points below whereas the Nifty closed in positive.
2. So the Bank Nifty Move may be a knee jerk reaction.
3. However Bank Nifty Index Heavy weights HDFC Bank and ICICI Bank are moving in opposite direction.
TRADING PLAN
1. NIFTY OPEN BETWEEN 19770 -19695 : NO TRADE.
2. NICTY OPEN ABOVE 19770 : Wait for a break out above 19810.
3. NIFTY OPEN BELOW 19695: Wait for a break below 19650.
4.BANK NIFTY OPEN BETWEEN 43690 - 43518 : Sell Any rally to 43750.
5.BANK NIFTY OPEN ABOVE 43690 : Wait for a break out above 43830.
6.BANK NIFTY OPEN BELOW 43521: Sell Any rally 43715.
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.
WOLRD MARKETS
1. All the world Indices are looking bullish. US and Europe are consolidating with a bullish bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is near 12 indicating increased fear and volatility.
2. GIFT Nifty is indicating a 26 points uptick at 19750.
INDEX HEAVY WEIGHTS
1. HDFC Bank opened below 1490 and has closed above 1505. It is looking bullish.
2. ICICI BAnk on the other hand has closed below 200 SMA and is looking very bearish.
3. Reliance is looking bullish. it has managed to hold above 2350.
ANALYSIS
1. The RBI announcement of additional security for retail lending has spooked NBFC. and Banks.So the hang over may remain for few days. The Bank closed 577 points below whereas the Nifty closed in positive.
2. So the Bank Nifty Move may be a knee jerk reaction.
3. However Bank Nifty Index Heavy weights HDFC Bank and ICICI Bank are moving in opposite direction.
TRADING PLAN
1. NIFTY OPEN BETWEEN 19770 -19695 : NO TRADE.
2. NICTY OPEN ABOVE 19770 : Wait for a break out above 19810.
3. NIFTY OPEN BELOW 19695: Wait for a break below 19650.
4.BANK NIFTY OPEN BETWEEN 43690 - 43518 : Sell Any rally to 43750.
5.BANK NIFTY OPEN ABOVE 43690 : Wait for a break out above 43830.
6.BANK NIFTY OPEN BELOW 43521: Sell Any rally 43715.
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.
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