Is Nifty Future Gunning For 11000 Next Week!!




The Outlook for 3rd December 2018
Nifty Daily Chart Levels
In today’s trading, Nifty Future witnessed an upside move till 10950 approx. The benchmark index has closed comfortably above 10900 and the current trend of the market will continue to be a buy unless it slips below the 200 DMA (10742 approx).  

Going forward, the index is likely to find support around the 5 DEMA (10832 approx). The nearest upside target for the index is around the 100 DMA (10986 approx). However, if Nifty trades above 11027 approx, it will scale up to 11100 approx. On the other hand, if the index trades below 10812 approx, it will move down to the 200 DMA (10742 approx). If Nifty trades below the 10 DMA (10719 approx), then sell trend will be triggered and the index will drop down to the daily mid- Bollinger band (10632 approx). Details about Monday’s option-trade analysis can be found on the market analysis section of our website.

Nifty Hourly Chart Levels
In the hourly session, Spot Nifty has closed around 10876 approx. The index is likely to find support around the hourly mid-Bollinger band (10847 approx). The nearest upside target is around the 100 HMA (10942 approx). However, if the index trades below the 5 HEMA high (10800 approx), it will scale down to the 200 HMA (10732 approx). Details about Monday’s option-trade analysis can be found on the market analysis section of our website.





Bank Nifty Options Data


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Nifty futures ended the week confidently above 10900 ahead of the 5 state election results. The benchmark index opened around 10927 this morning and went on to register a high of 10950 approx. Although India Vix has closed at 19.16, no major selloff is likely to be triggered in the market till the index holds above the 200 DMA (10742 approx). The current trend continues to be a buy. Going forward, Nifty will find support around the 5 DEMA high (10832 approx). The nearest upside target for the index is around the 100 DMA (10986 approx). 

Stocks Under The Scanner
In today’s trade Yesbank shares rose 6.26%, Wipro shares rose 3.14%. Hindustan Petroleum shares dropped 4.41 % in the course of the day’s trade.



The Outlook for 3rd December 2018
Nifty Daily Chart Levels
In today’s trading, Nifty Future witnessed an upside move till 10950 approx. The benchmark index has closed comfortably above 10900 and the current trend of the market will continue to be a buy unless it slips below the 200 DMA (10742 approx).  

Going forward, the index is likely to find support around the 5 DEMA (10832 approx). The nearest upside target for the index is around the 100 DMA (10986 approx). However, if Nifty trades above 11027 approx, it will scale up to 11100 approx. On the other hand, if the index trades below 10812 approx, it will move down to the 200 DMA (10742 approx). If Nifty trades below the 10 DMA (10719 approx), then sell trend will be triggered and the index will drop down to the daily mid- Bollinger band (10632 approx). Details about Monday’s option-trade analysis can be found on the market analysis section of our website.

Nifty Hourly Chart Levels
In the hourly session, Spot Nifty has closed around 10876 approx. The index is likely to find support around the hourly mid-Bollinger band (10847 approx). The nearest upside target is around the 100 HMA (10942 approx). However, if the index trades below the 5 HEMA high (10800 approx), it will scale down to the 200 HMA (10732 approx). Details about Monday’s option-trade analysis can be found on the market analysis section of our website.





Bank Nifty Options Data


 
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