PRE MARKET ANALYSIS OF NIFTY FOR 16 DEC 2024

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15 DEC 2024
WORLD MARKETS
1. All the world markets are consolidating with a bullish bias.
INDIA VIX AND GIFT NIFTY
1. INDIA VIX is below 14 indicating reduction in volatility.
GIFT Nifty is indicating 100 points downtick at 24730.

INDEX HEAVY WEIGHTS
1. HDFC Bank is very bullish. It has a target of 1896.
2. ICICI Bank is also bullish. 1355 is strong resistance.
3. Reliance has very strong resistance at 1290. Any break of it will take it to 1320 levels.
TRADING PLAN
1. NIFTY OPEN BETWEEN 24936 - 24600 : Any dip to 24600 is a buy.
2. NIFTY OPEN BELOW 24600: Any consolidation between 24500 - 24600 and move above 24600 is a buy.
3.NIFTY OPEN ABOVE 24936: Wait for a dip to 24700.
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.