PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FO 23 FEB 2023

2月22日

22 FEB 2024
WORLD MARKETS
1. All the world markets are loooking very bullish with an uptick of 1 - 2 % uptick.
INDIA VIX AND GIFT NIFTY
1. India VIX has come down by 5 % which is a good sign.
2. GIFT Nifty is indicating a flat start for tomorrow.
INDEX HEAVY WEIGHTS
1. HDFC Bank is looking bearish after 2 days of fall. However 1410 is still a good support.
2. ICICI Bank is looking very bullish.It has closed above 1052.
3. Reliance is still in the consolidating in the range of 2975 - 2910. Any break of 2975 will be bullish.
ANALYSIS
1. Nifty has closed above 22200 in spot which is very bullish.
2. However Bank Nifty is still below 47000. We need to see how HDFC Bank behave tomorrow. If it remain range bound and ICICI Bank start trending, then we may trade Nifty rather than bank nifty.
TRADING PLAN
1. NIFTY OPEN BETWEEN 22322 - 22110 : Buy any dip to 22100 - 22000.
2. NIFTY OPEN ABOVE 22310 : Wait for a dip to 22100 and break above 22310.
3. NIFTY OPEN BELOW 22100 : Wait for a consolidation and break below 22000.
4.BANK NIFTY OPEN BETWEEN 46755 - 47090: NO TRADE. High risk trade will be to wait for a consolidation between 46750 - 46950 and buy any break in the range above 46950
5.BANK NIFTY OPEN ABOVE 47090: Wait for a consolidation between 47000 and 47232 and break above 47250.
6.BANK NIFTY OPEN BELOW 46755 : Wait for a break below 46500 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.