PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 27 MARCH 2024

3月26日

26 MARCH 2024
WORLD MARKETS
1. All the world Markets are consolidating with a bullish bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is up 5% at 13.
2. GIFT Nifty is indicating a flat opening with a negative bias.
INDEX HEAVY WEIGHTS
1. HDFC Bank has closed below 1430 which was a crucial support. 1410 -1400 remains a strong support. A break of 1420 will give us 1400.
2. ICICI Bank has a crucial support at 1070. It has defended 1070.
3. Reliance is taking supprt at 2875- 2870. Any break of it will be negative.
ANALYSIS
1. We are left with 2 trading days. So market may remain range bound till the end of march expiry.
2. with ICICI Bank consolidating with a bullish bias and hdfc bank with a negative bias, market may remain range bound.
TRADING PLAN
1.NIFTY OPEN BETWEEN 22050 - 21950 : NO TRADE.
2.NIFTY OPEN ABOVE 22050: Wait for a consolidation between 22000 - 22100 and buy any break out.
3.NIFTY OPEN BELOW 21950 : Wait for a consolidation and break below 21900 decisively.
4. BANK NIFTY OPEN BETWEEN 46670 - 46520 : NO TRADE.
5.BANK NIFTY OPEN ABOVE 46670 : Wait for a consolidation between 46700 - 46800 and any break above 46850 is a buy.
6. BANK NIFTY OPEN BELOW 46530 : Sell any rally to 46650.
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.