PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 27 JUL 2023

2023年7月26日

27 JUl 2023
WORLD MARKETS
1. US market is looking neutral to bullish. It is awaiting interest rate decision by fed chairman to night. If interest rate is raised by 25 bps, then US market may sell of and so nifty may also sell off. If status quo is maintained, then Indices may rally.
2. Asia and Europe is looking bearish.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 11 indicating bullishness.
2.GIFT Nifty is showing 48 points uptick now at 19810 spot. This amounts to 46115 levels for bank nifty.
INDEX HEAVY WEIGHTS
1. HDFC Bank is not able to cross 1700 levels. It has good support at 1685 levels.
2. ICICI Bank is taking support at 990 levels but unable to cross 1000. Any break of 1000 will be bullish.
3. Reliance made a good come back . It has resistance at 2540 and support at 2508. Any break of 2540 will be bullish.
ANALYSIS
1. Today's rally is a short covering rally or in anticipation of fed rate decision is to be seen.
2. Nifty crossed 19800 but settled below it. Similarly Bank nifty could break 46000 and has closed above it.
3. But what is required to be seen is whther these levels will sustain tomorrow because of a very big news awaiting.
TRADING PLAN
1. NIFTY OPEN FLAT: Any dip to 19750 is a buy. Any move to 19800 and weakness is a sell for a tgt of 19740.
NIFTY OPEN GAP UP: Any Move above 19840 is a buy for a tgt of 19890 levels. Any weakness below 19800 is a sell.
3.NIFTY GAP DOWN: Any gap down below 19710 is a sell for a tgt of 19670.
4.BANK NIFTY OPEN FLAT: Any dip to 45980 and move above 46050 is a buy.
5. BANK NIFTY OPEN GAP UP: Any gap up above 46100 and move above 46140 is a buy for a tgt of 46225 - 46355.
6.BANK NIFTY GAP DOWN: Any move below 45900 is a sell for a tgt of 45770.

I AM NOT A SEBI REGISTERED TRADER. THIS INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVISOR FOR ANY TRADE RELATED QUERIES.