PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 28 MARCH 2024

3월 27일

27 MARCH 2024
WORLD MARKETS
1. All the World markets are looking bullish.
europe is extremely bullish. while US is consolidating with a bullish bias.
INDIA VIX AND GIFT NIFTY AND FII ACTIVITY
1. India VIX is above 12.5 and steady.
2. GIFT Nifty is indicating a flat opening.
3. Today both FII and DII were net buyers.
INDEX HEAVY WEIGHTS
1.HDFC Bank has reclaimed 1435 and closed at 1438. It is looking bullish if it crosses above 1440 decisively.
2. ICICI Bank as usual is range bound and is consolidating between 1070 - 1091.
2. Reliance has shot up 3.56 % and is looking bullish. 3012 seems to be strong resistance.
ANALYSIS
1. Reliance lifted Nifty and is responsible for Nifty closing above 22100. This is a positive.
2. However Bank Nifty is still below 46800.
3. Since HDFC Bank is looking Bullish, we may see some traction in Bank Nifty and Nifty tomorrow.
TRADING PLAN
1. NIFTY OPEN BETWEEN 22080 - 22173: Buy any dip to 22100.
2. NIFTY OPEN ABOVE 22173: Wait for a dip and consolidation. Buy any break out of 22200. Any dip can be accumulated.
3.NIFTY OPEN BELOW 22080: Wait for a consolidation between 22050 -22100 and buy above 22100.
4.BANK NIFTY OPEN BETWEEN 46870 - 46700 : no trade. However any dip to 46700 is a buy.
5.BANK NIFTY OPEN ABOVE 46870 : Wait for a consolidation between 46700 - 46850 and break above 46850.
6.BANK NIFTY OPEN BELOW 46700 : Buy any consolidation and break above 46850.

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.