NIFTY AND BANK NIFTY ANALYSISS FOR 22 AUG 2023

21 авг. 2023 г.

22 Aug 2023
WORLD MARKETS
1. All the world markets are looking bearish.
INDIA VIX AND GIFT NIFTY
1. India VIX is at 11.96 indicating high volatility.
2. GIFTY Nifty is indicating a downtick of 46 points at 19350. This amounts to 43850 levels for bank nifty.
INDEX HEAVY WEIGHTS
1. HDFC Bank could not break 1593 level. Any break of 1596 is bullish. Any weakening below 1593 is bearish.
2. ICICI Bank could not break 960 levels. Any break of 949 will be bearish. Any rally to 958 will be a sell. Any gap up above 961 is bullish.
3. Reliance is looking bearish. Any rally to 2537 and break below 2531 is a sell. Any gap up above 2545 is a buy.
ANALYSIS
1. World market is looking bearish.
2. Index heavy weights are looking bearish.
3. Nifty could not hold above 19400. Bank Nifty could not break 44070 decisively.
TRADING PLAN
1.NIFTY OPEN BETWEEN 19357 - 19430: Any dip to 19350 -19322 and move above 19360 is a buy.
2. NIFTY OPEN ABOVE 19430: Any dip to 19400 is a buy.
3. NIFTY OPEN BELOW 19320 : Any rally to 19360 is a sell.
4. BANK NIFTY OPEN BETWEEN 44070 - 43930 : Any dip to 43930 is a buy.
5. BANK NIFTY OPEN ABOVE 40070 : Any dip to 44000 is a buy. However any break of 44150 will be a clear break out.
6. BANK NIFTY OPEN BELOW 43850: Any rally to 43930 will be a sell. Tgt 43750.
I AM NOT A SEBI REGISTERED TRADER. THE INFORMATION IS FOR EDUCATIONAL PURPOSES ONLY. PLEASE CONSULT YOUR REGISTERED FINANCIAL ADVISOR FOR ANY TRADE RELATED QUERY.