PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 04 OCT 2024

4 окт.

04OCT 2024
1. WORLD MARKETS
1. All the world markets are consolidating with a positive bias.
INDIA VIX AND GIFT NIFTY
1. India VIX is above 13 indicating increase in volatility.
2. GIFT Nifty is indicating a flat opening.
INDEX HEAVY WEIGHTS
1. HDFC Bank is bearish. It has a target of 1660. Resistance can be seen at 1690 levels.
2. ICICI Bank has fallen less compared to HDFC Bank. It has a target of 1228.
3. Reliance is extremely bearish. Next support is at 2721.
ANALYSIS
1. Woman see consolidation with a negative bias.
TRADING PLAN
1. NIFTY OPEN BETWEEN 25362 - 25250: Sell any rally to 25400 levels and break below 25350.
2. NIFTY OPEN ABOVE 25360: Sell any rally to 25400 and break below 25350.
3.NIFTY OPEN BELOW 25250: Sell any rally to 25300 levels.
4.BANK NIFTY OPEN BETWEEN 52100 - 51600: Sell any rally to 52100 and break below 51000. Look for bearish pattern.
BANK NIFTY OPEN ABOVE 52100: WAIT for a consolidation and break above 52350 decisively.
6.BANK NIFTY OPEN BELOW 51600: Sell any rally to 51800.
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.