First Day of Profit Booking In Nifty, Likely To Test 11043 Tomorrow


Nifty saw its first session of profit booking today after 3 consecutive days of buying in the market. The index closed around 11132 which is marginally below its previous close of 11134. Profit booking sessions started around the 11155 levels. The benchmark index corrected sharply by 40 points and went on to make a low of 11114 in the last hour of the day's trade. Since tomorrow is the last day of the July expiry and put option premiums have shrunk, Nifty is likely to test 11043 on the lower side. However, the major support for the index still remains around its 10 DMA (11025 approx).

Stocks Under The Scanner
In today’s trade India Bull Housing Finance share price rose 3.80%, while Bajaj Finserv share price was also up 1.79%. NTPC shares were down 4.10% today.



The Outlook for 26th July 2018
Daily Chart Levels
It was a range trading day for Nifty today. The index traded between 11155 and 11114 which is merely a move of 41 points. Towards the close of the day’s trade, Nifty gave away 40 odd points in a matter of 20 mins. The index will find its first support around its 5 DEMA high (11100 approx). However if the index breaks and trades below 11090, it will find its next support zone around its 10 DMA ( 11025 approx). On the upside, Nifty will face stiff resistance around its upper Bollinger band ( 11215 approx)



Hourly Chart Levels
In the hourly charts, the Nifty share price has closed around its 15 HMA ( 11132approx). The index is likely to find a stiff round of resistance around its hourly upper Bollinger band (11172 approx). However if Nifty will find its first zone of support around its 20 HMA ( 11115approx).





 
The Outlook For 26th July 2018
Bank Nifty Daily Chart Levels
In today’s trade, Bank Nifty share price closed around 27031  approx. The index is likely to find its first round of resistance around its 5 DEMA high (27065 approx). However, Bank Nifty will find its nearest support around its 10 DMA( 26910approx).



Bank Nifty Hourly Chart Levels
In the hourly charts, Bank Nifty share price closed around its 5 HMA (27031 approx). The index will find its support around its 34 HMA ( 26930approx). If Bank Nifty breaks and trades below its 100 HMA (26900 approx) it will find its next support around its lower Bollinger band (26890 approx).





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Nifty saw its first session of profit booking today after 3 consecutive days of buying in the market. The index closed around 11132 which is marginally below its previous close of 11134. Profit booking sessions started around the 11155 levels. The benchmark index corrected sharply by 40 points and went on to make a low of 11114 in the last hour of the day's trade. Since tomorrow is the last day of the July expiry and put option premiums have shrunk, Nifty is likely to test 11043 on the lower side. However, the major support for the index still remains around its 10 DMA (11025 approx).

Stocks Under The Scanner
In today’s trade India Bull Housing Finance share price rose 3.80%, while Bajaj Finserv share price was also up 1.79%. NTPC shares were down 4.10% today.



The Outlook for 26th July 2018
Daily Chart Levels
It was a range trading day for Nifty today. The index traded between 11155 and 11114 which is merely a move of 41 points. Towards the close of the day’s trade, Nifty gave away 40 odd points in a matter of 20 mins. The index will find its first support around its 5 DEMA high (11100 approx). However if the index breaks and trades below 11090, it will find its next support zone around its 10 DMA ( 11025 approx). On the upside, Nifty will face stiff resistance around its upper Bollinger band ( 11215 approx)



Hourly Chart Levels
In the hourly charts, the Nifty share price has closed around its 15 HMA ( 11132approx). The index is likely to find a stiff round of resistance around its hourly upper Bollinger band (11172 approx). However if Nifty will find its first zone of support around its 20 HMA ( 11115approx).





 
The Outlook For 26th July 2018
Bank Nifty Daily Chart Levels
In today’s trade, Bank Nifty share price closed around 27031  approx. The index is likely to find its first round of resistance around its 5 DEMA high (27065 approx). However, Bank Nifty will find its nearest support around its 10 DMA( 26910approx).



Bank Nifty Hourly Chart Levels
In the hourly charts, Bank Nifty share price closed around its 5 HMA (27031 approx). The index will find its support around its 34 HMA ( 26930approx). If Bank Nifty breaks and trades below its 100 HMA (26900 approx) it will find its next support around its lower Bollinger band (26890 approx).





Large Cap, Mid Cap & Small Cap Gainers






 
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