PRE MARKET ANALYSIS OF NIFTY FOR 25 NOV 2024

4 日前

25 NOV 2024
WORLD MARKETS
1. All the world markets are looking very bullish.
INDIA VIX AND GIFT NIFTY
1. India VIX is at 16 . But any drastic fall in VIX from here may initiate a bull move.
2. GIFT Nifty is indicating 265 uptick at 24285 levels.
INDEX HEEAVY WEIGHTS
1. HDFC BANK is trading with a positive bias. It may once again test all time high.
2. ICICI Bank has made green candle in the past two trading session. It has resistance at 1281. If it open above 1285, then it will remain bullish.
3. Reliance has taken support at 1200 level as discussed . It may move higher in the days to come. 1285 is a strong resistance. Any open above 1285 will be bullish.
ANALYSIS
1. Post Maharastra election, market has turned bullish.
2. However Nifty has moved 579 points on Friday and is showing another 250 points gap up. Need to be cautious as Nifty would have made almost 800 points up move in 2 session. However 23750 - 23800 remain a good support. If 23700 is breached, then downside may continue.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24071 AND 23735: Buy any dip to 23600 and move above 23750 levels.
2. NIFTY OPEN ABOVE 24071.: Buy any dip to 24000 levels. However any weakness at 24000 level should be watched as the market has already moved 570 points and gift nifty is indicating another 250 points. Monthly expiry is still not over.
3.NIFTY OPEN BELOW 23750: Buy any consolidation and move above 23800 levels.
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.