PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 01 MAR 2024

2월 29일

01 march 2024
WORLD MARKETS
1. World Markets are consolidating with a positive bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is at 15.7 which is high. Hence the markets are moving violantly.
2. GIFT Nifty is indicating a down tick of 34 points at 21920. This amounts to 46000 for the bank nifty.
INDEX HEAVY WEIGHT.
1. HDFC Bank is consolidating in a very narrow range of 1440 - 1400. However it is below 1410.
2. ICICI Bank has been very volatile. It has closed below 1053.
3. Reliance is clearly turned negative. Next support is at 2870.
ANALYSIS
1. Indices are very volatile. Today we saw markets making random move. It should be observed that call premium has not changed much in Bank nifty but put premium has crashed considerably.
2. Nifty is still below 22000 and Bank Nifty below 46500.
TRADING ANALYSIS
1. NIFTY OPEN BETWEEN 22050 - 21930 : NO TRADE.
2. NIFTY OPEN ABOVE 22050: Wait for a consolidation betwen 22040 - 22100 and buy a breakout above 22100.
3.NIFTY OPEN BELOW 21930 : Wait for a breakout below 21850 decisively.
4.BANK NIFTY OPEN BETWEEN 46310 -45936 : NO TRADE.
5. BANK NIFTY OPEN ABOVE 46300 : Wait for a consolidation and break above 46350 decisively.
6. BANK NIFTY OPEN BELOW 45930: Sell any any consolidation and break below 45900 decisively.

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.