PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 19 APR 2024

4월 18일

19 APR 2024
WORLD MARKETS
1. World Markets are trading with a negative bias.
2. India VIX is above 13 which will fuel further downside.
3. GIFT Nifty is indicating 90 points down tick at 21900 and Bank Nifty at 46700.
INDEX HEAVY WEIGHTS
1. HDFC Bank faced resistance at 1520. If 1487 is broken, then HDFC Bank will turn bearish.
2.ICICI Bank has turned bearish. It has resistance at 1060.
3. Reliance has support at 2915. Any break of 2915 will be bearish.
ANALYSIS
1. Indices have been in down trend for the past 4 days.
2. Today there was an expectation of pull back.
3. Nifty tried to break out but was not supported by Bank Nifty.
4. Bank Nifty has turned bearish.
TRADING PLAN
1. NIFTY OPEN BETWEEN 22100 - 21900 : Sell Any rally to 22100.
2. NIFTY OPEN ABOVE 22100 : Sell Any rally to 22200 and break below 22100 decisively.
3. NIFTY OPEN BELOW 21900: Sell any rally to 22000.
4. BANK NIFTY OPEN BETWEEN 48300 - 46835: Sell any rally to 47430 and break below 47300.
5. BANK NIFTY OPEN ABOVE 47300 : Sell any rally to 47550 and break below 47300.
6.BANK NIFTY OPEN BELOW 46830: Sell any rally to 47000.
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.