Bulls In Control, As Nifty Consolidates, Support At 11300


Nifty buyers have gained momentum in the last two trading sessions as the index has taken the support of its 5 DMA (11340 approx). The benchmark index opened 32 points gap up at 11419 today and went on to test its recent high of 11428. Nifty closed convincingly above its 5 DEMA high (11385 approx), indicating that the buyers have gained significant upper hand in the last two trading sessions. Nifty put options have faced an average drawdown of 6% in today’s trading session. The 11300, 11200 and 11100 put options have lost 6%, 8% and 4% of its value by the end of the day’s trade. The next resistance for Nifty is around its upper Bollinger band (11480 approx).

Stocks Under The Scanner
In today’s tradeTata Steel shares rose 4.02%, while Titan shares rose 3.03%. Tech Adani Port shares dropped 6.08% in the course of the day’s trade.
 




The Outlook for 8th August 2018
Nifty Daily Chart Levels
In today’s trading session, Nifty closed near its 3DEMA high (11389 approx). The index traded in a range of 69 points between 11428 and 11360. However, the bulls have taken control of Nifty and the index likely to find its nearest support around its 5 DMA( 11340approx). Nifty is likely to face its next resistance around its upper Bollinger band (11480 approx).



Nifty Hourly Chart Levels
In the hourly trades, the Nifty share price has closed near its 10 HMA(11389approx). The index is likely to find its next support around its 50HMA (11340approx). The nearest resistance for Nifty is around its hourly upper Bollinger band (11430approx).





Large Cap & Mid Cap Gainers




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Nifty buyers have gained momentum in the last two trading sessions as the index has taken the support of its 5 DMA (11340 approx). The benchmark index opened 32 points gap up at 11419 today and went on to test its recent high of 11428. Nifty closed convincingly above its 5 DEMA high (11385 approx), indicating that the buyers have gained significant upper hand in the last two trading sessions. Nifty put options have faced an average drawdown of 6% in today’s trading session. The 11300, 11200 and 11100 put options have lost 6%, 8% and 4% of its value by the end of the day’s trade. The next resistance for Nifty is around its upper Bollinger band (11480 approx).

Stocks Under The Scanner
In today’s tradeTata Steel shares rose 4.02%, while Titan shares rose 3.03%. Tech Adani Port shares dropped 6.08% in the course of the day’s trade.
 




The Outlook for 8th August 2018
Nifty Daily Chart Levels
In today’s trading session, Nifty closed near its 3DEMA high (11389 approx). The index traded in a range of 69 points between 11428 and 11360. However, the bulls have taken control of Nifty and the index likely to find its nearest support around its 5 DMA( 11340approx). Nifty is likely to face its next resistance around its upper Bollinger band (11480 approx).



Nifty Hourly Chart Levels
In the hourly trades, the Nifty share price has closed near its 10 HMA(11389approx). The index is likely to find its next support around its 50HMA (11340approx). The nearest resistance for Nifty is around its hourly upper Bollinger band (11430approx).





Large Cap & Mid Cap Gainers




 
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