PRE MARKET ANALYSIS OF NIFTY AND BANK NIFTY FOR 17 SEP 2024

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17 Sep 2024
WORLD MARKETS
1. US markets are looking bullish.
2. It is waiting for the interest rate decision of fed. If Interest rate is kept unchanged, the market may react negatively.
INDIA VIX AND GIFT NIFTY
1. India VIX is still below 13 indicating more bullishness.
INDEX HEAVY WEIGHTS
1. HDFC Bank is in a range between 1681 - 1660.
2. ICICI Bank is bullish and has a tgt of 1274.
3. Reliance is bearish and has resistance at 2960.
TRADING PLAN.
1. NIFTY OPEN BETWEEN 25350 - 25413: No Trade.
2. NIFTY OPEN ABOVE 25413: Sell any rally to 25500.
3. NIFTY OPEN BELOW 25350: Sell 25200 put if 25300 is sustained.
4.BANK NIFTY OPEN BETWEEN 52232 - 52074 : No Trade.
5.BANK NIFTY OPEN ABOVE 52232: Sell 52300 CALL for Any rally to 52300 and break below 52200.
6. BANK NIFTY OPEN BELOW 52074: Sell 52000 put if there is a consolidation and break above 52200 decisively.

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.