BJP Victory In Karnataka Could Take Nifty Higher


Hourly Chart Levels
In the hourly chart Nifty share price has closed around its 34 HMA (10717approx). If the index opens above its 5HMA (10725approx) on Thursday, it will see an upside move till10737 approx. However if Nifty share price sustains above10740, it will find its next resistance area around its upper Bollinger band (10767approx). If Nifty breaks and trades below10705 it can see a correction till its next support area around 100 HMA (10675 approx).

BANK NIFTY Outlook for 11th May, 2018
 
Daily Chart Levels
In the Daily Chart Bank Nifty has closed below its upper Bollinger band (26135 approx). If the Index opens above 26160, it’s likely to face its first round of resistance around (26215approx).  If the index trades above 26270 tomorrow, it will move up and face its next resistance around 26315approx. However if the index opens below 26105, the next area of support will be its 5DMA (25974 approx).  If Bank Nifty trades below25970, it will slip down till its 10DMA (25695approx).

Hourly Chart Levels
In the hourly chart if Bank Nifty opens above its 5HEMA high ( 26150approx)tomorrow, it will move up and face its next resistance around  its 10 HMA(26170approx).However if Bank Nifty opens below 26100, it will move down and find its next support around its 34 HMA( 26000approx). However if Bank Nifty breaks and trades below 25990, it will find its the next support area around its 50 HMA (25875 approx).
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Nifty opened 40 points up this morning at 10780.The Index traded in arrange of 80 points throughout the day and closed above its 5 DMA ( 10711 approx).
Stocks That Were Hammered
In today’s trading session, Federal Bank fell 11.47%, in the pharma space Dr. Reddy fell 3.47% while Idea Cellular saw a fall of 3.79% In the Telecom space.
 
Outlook for 11th May, 2018
Daily Chart Levels
In the daily timeframe Nifty share price closed above its 5 DEMA (10717 approx). If the index opens above10725.it will move up till its upper Bollinger band (10795 approx). However, if Nifty share price opensbelow10705, it is likely to find its first support around its10 DMA (10690 approx). If Nifty share price trades and sustains below10685, it will find its next support at its15 DMA (10650 approx).
Hourly Chart Levels
In the hourly chart Nifty share price has closed around its 34 HMA (10717approx). If the index opens above its 5HMA (10725approx) on Thursday, it will see an upside move till10737 approx. However if Nifty share price sustains above10740, it will find its next resistance area around its upper Bollinger band (10767approx). If Nifty breaks and trades below10705 it can see a correction till its next support area around 100 HMA (10675 approx).

BANK NIFTY Outlook for 11th May, 2018
 
Daily Chart Levels
In the Daily Chart Bank Nifty has closed below its upper Bollinger band (26135 approx). If the Index opens above 26160, it’s likely to face its first round of resistance around (26215approx).  If the index trades above 26270 tomorrow, it will move up and face its next resistance around 26315approx. However if the index opens below 26105, the next area of support will be its 5DMA (25974 approx).  If Bank Nifty trades below25970, it will slip down till its 10DMA (25695approx).

Hourly Chart Levels
In the hourly chart if Bank Nifty opens above its 5HEMA high ( 26150approx)tomorrow, it will move up and face its next resistance around  its 10 HMA(26170approx).However if Bank Nifty opens below 26100, it will move down and find its next support around its 34 HMA( 26000approx). However if Bank Nifty breaks and trades below 25990, it will find its the next support area around its 50 HMA (25875 approx).
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