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

2月27日

27 FEB 2024
WORLD MARKETS
1. World markets are consolidating with a positive bias.
2. However US markets are trading with 0.3% cut.
INDIA VIX AND GIFT NIFTY
1. India VIX is elevated at 15.7. GIFT Nifty is indicating a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC Bank is indicating a consolidation with a negative bias.
2. ICICI bank is looking bullish.
3. Reliance is consolidating with a positive bias.
ANALYSIS
1. Nifty and Bank Nifty is consolidating with a positiver bias. Nifty look stronger than bank nifty.
2. Nifty has closed above 22200.
3. Bank Nifty is weak compared to Nifty.
4. Nifty had a good rally due to TCS.
TRADING PLAN
1. NIFTY OPEN BETWEEN 22160 - 22232 : NO TRADE.
2. NIFTY OPEN ABOVE 22232: Wait for a break out above 22270.
3. NIFTY OPEN BELOW 22167: Wait for a break down below 22070.
4. BANK NIFTY OPEN BETWEEN 46700 - 46477: NO TRADE
5. BANK NIFTY OPEN ABOVE 46700: Wait for a break above 46810 decisively.
6.BANK NIFTY OPEN BELOW 46440 : Wait for a break below 46350 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.