PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 10 JUN 2024

9 Jun

10 Jun 2024
WORLD MARKETS
1. world markets are trading with a bullish bias.
INDIA VIX ANAD GIFT NIFTY
1. GIFT Nifty is indicating a negative start of 75 points. This may change.
2. India VIX is below 20 indicating stability in markets
INSE XHEAVY WEIGHTS
1. HDFC BANK is indicating a bullish stance. It has support at 1564 and resistance at 1595.
2. ICICI bank has resistance at 1125.
3. Reliance has resistance at 2980 and support at 2945.

TRADING PLAN
1. NIFTY OPEN BETWEEN 23144 -23445 : Buy any dip to 23100 - 23050.
2.NIFTY OPEN ABOVE 23133: wait for a consolidation and buy any break out from 23150. However any dip can be bought into.
3.NIFTY OPEN BELOW 23133; Sell any consolidation and break below 22950.
4. BANK NIFTY OPEN BETWEEN 50040 - 49565: Buy any dip to 49600.
5.BANK NIFTY OPEN ABOVE 50040: Buy any dip to 49750. However wait for a break above 50040 for aggressive buy.
6.BANK NIFTY OPEN BELOW 49565. Wait for a consolidation and break below 49500. However if there is a consolidation and break above 49750, then we can start buying.
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.