PRE MARKET ANALYSIS OF NIFTY FOR 09 DEC 2024

09 DEC 2024
WORLD MARKETS
1. All the world markets are looking bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX is below 15 indicating reduction in volatility.
2. GIFT Nifty is indicating a flat opening at 24650.
INDEX HEAVY WEIGHTS
1. HDFC Bank is bullish with 1840 as a good support.
2. ICICI Bank has support at 1320. It is bullish.
3. Reliance has resistance at 1327. Good support is seen at 1300. Any break of 1300 will be bearish.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24642 - 24714 : NO TRADE.
2. NIFTY OPEN ABOVE 24714 : Wait for a consolidation and break above 24750.
3. NIFTY OPEN BELOW 24640: Wait for a consolidation and break below 24500.
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.