PRE MARKT ANALYSIS OF NIFTY AND BANK NIFTY FOR 19 MARCH 2024

3月18日

19 MAR 2024
WORLD MARKETS
1. US is trading with a gain of 1-1.5 %.
2. Europe and Asia is bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 15 indicating bullishness.
2. GIFT Nifty is indicating 30 points downtick which is a flat opening.
INDEX HEAVY WEIGHTS.
1. HDFC Bank took support at 1435 as predicted. However we have to see whether it will hold.
2. ICICI Bank broke below 1075 to 1050 and closed above 1075.
3. Reliance has made a green candle and trying to hold 2435 level.
ANALYSIS
1. Indices are looking oversold for very short term. However medium term the indices are still bearish.
2. NIFTY IS HOLDING ABOVE 22000 AND BANK NIFTY ABOVE 46500.
TRADING PLAN
1. NIFTY OPEN BETWEEN 22115 -22000 : Buy any dip to 22000 and move above 22040.
2.NIFTY OPEN ABOVE 22115 : Buy any dip to 22050 - 22100 and break above 22150.
3. NIFTY OPEN BELOW 22005: Sell any rally to 22100 and break below 22000.
4.BANK NIFTY OPEN BETWEEN 46350 - 46785 : Buy any dip to 47300 tgt 46800 and sell any rally to 46800 tgt 46300.
5.BANK NIFTY OPEN ABOVE 46785: Wait for a consolidation between 46500 - 46800 and break above 46800. However every dip to 46500 can be accumulated.
6. BANK NIFTY OPEN BELOW 46300 : Sell any rally 46500.
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.