Buyers Take Control Of Nifty, Support At 10140




The Outlook for 30th October 2018
Nifty Daily Chart Levels
In today’s trading session, Nifty witnessed 250 points rally from the day’s low and made a high of 10274 approx. The index has closed around the 5DEMA high (10250 approx) and is likely to open gap up around 10290 tomorrow. Nifty will find the nearest support around the 5 DMA (10140 approx). The nearest upside target for the index is around the daily mid-Bollinger band (10405 approx). However, if Nifty, breaks, and trades below 10000 approx, it will scale down to the daily lower-Bollinger band (9900 approx).

Nifty Hourly Chart Levels
In the hourly session, Nifty closed above the 5 HEMA high (10250 approx). The index is likely to find support around the 34 HMA high (10120 approx). The nearest upside target for Nifty is around the 100 HMA (10300 approx). On the other hand, if Nifty trades below the hourly mid-Bollinger band (10090 approx), it will scale down to the hourly lower -Bollinger band (9975 approx). 






          Nifty Large & Mid Cap Stocks





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India’s benchmark Nifty entered the buy zone with a phenomenal run of 250 points today and breached the resistance of 10260 approx. The index has closed around the 5 DEMA high (10250 approx), which is a sign that buyers have complete control over the market. Nifty is likely to open gap up tomorrow around 10290. However, in the event of a correction, 10140 will be a strong support zone for the Index buyers.

Stocks Under The Scanner
In today’s trade Indiabulls Housing Finance shares rose 12.49%, while ICICI Bank shares rose 11.34%. IndusInd Bank shares dropped  2.48% in the course of the day’s trade.



The Outlook for 30th October 2018
Nifty Daily Chart Levels
In today’s trading session, Nifty witnessed 250 points rally from the day’s low and made a high of 10274 approx. The index has closed around the 5DEMA high (10250 approx) and is likely to open gap up around 10290 tomorrow. Nifty will find the nearest support around the 5 DMA (10140 approx). The nearest upside target for the index is around the daily mid-Bollinger band (10405 approx). However, if Nifty, breaks, and trades below 10000 approx, it will scale down to the daily lower-Bollinger band (9900 approx).

Nifty Hourly Chart Levels
In the hourly session, Nifty closed above the 5 HEMA high (10250 approx). The index is likely to find support around the 34 HMA high (10120 approx). The nearest upside target for Nifty is around the 100 HMA (10300 approx). On the other hand, if Nifty trades below the hourly mid-Bollinger band (10090 approx), it will scale down to the hourly lower -Bollinger band (9975 approx). 






          Nifty Large & Mid Cap Stocks





 
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