PRE MARKET ANALYSIS OF NIFTY FOR 30 DEC 204
30 DEC 2024
1. WORLD MARKETS
1.World markets are consolidating with a negative bias. Due to NEW YEAR and Christmas.
INDIA VIX AND GIFT NIFTY
1. India VIX is down to 13 indicating reduction in volatility.
2. GIFT Nifty is indicating a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC BANK is trading in a range with bullish bias. It has support at 1800 and resistance at 1815. Buy on dips will be a good strategy.
2. ICICI Bank is trading with a bullish bias. Any dip to 1310 is a buy.
3. Reliance is trading with a bearish bias. Break above 1240 is bullish while break below 1220 is bearish.
ANALYSIS
1. Year end 2024 has resulted in reduction in volume.
2. This may keep Nifty in range.
3. Best strategy will be to sell 24000 -23800 strangle of Iron condor with 24300 and 23500 option buy and 24000 and 23800 option sell. In case of strangle Net premium collected will be 187 while in case of Iron condor it will be 141.
4. Risk averse traders may trade HDFC Bank, ITC, ICICI BAnk on buy on dips Intra day. If market is positive, buy these stock for intra day gain of 1-1.5%.
5. SBI, Tata steel, TCS and Axis Bank is sell on rally. If market is weak sell these stocks for 1-2 % gain Intra day.
6. However If Nifty Break out 24000 Decisively we can Buy.
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.
1. WORLD MARKETS
1.World markets are consolidating with a negative bias. Due to NEW YEAR and Christmas.
INDIA VIX AND GIFT NIFTY
1. India VIX is down to 13 indicating reduction in volatility.
2. GIFT Nifty is indicating a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC BANK is trading in a range with bullish bias. It has support at 1800 and resistance at 1815. Buy on dips will be a good strategy.
2. ICICI Bank is trading with a bullish bias. Any dip to 1310 is a buy.
3. Reliance is trading with a bearish bias. Break above 1240 is bullish while break below 1220 is bearish.
ANALYSIS
1. Year end 2024 has resulted in reduction in volume.
2. This may keep Nifty in range.
3. Best strategy will be to sell 24000 -23800 strangle of Iron condor with 24300 and 23500 option buy and 24000 and 23800 option sell. In case of strangle Net premium collected will be 187 while in case of Iron condor it will be 141.
4. Risk averse traders may trade HDFC Bank, ITC, ICICI BAnk on buy on dips Intra day. If market is positive, buy these stock for intra day gain of 1-1.5%.
5. SBI, Tata steel, TCS and Axis Bank is sell on rally. If market is weak sell these stocks for 1-2 % gain Intra day.
6. However If Nifty Break out 24000 Decisively we can Buy.
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.
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