Karnataka Elections, Three Parties, Five Possibilities, Nifty Likely To Trade Between 10945 & 10600


Hourly Chart Levels
In the hourly chart Nifty share price has closed around its 5 HEMA high (10808 approx). If the index opens above 10815, it will see an upside move till 10840 approx. However if Nifty share price sustains above10850, it will find its next resistance area around 10870 approx. If Nifty breaks and trades below its 15 HMA high (10785 approx), it can see a correction till its next support area around 20 HMA (10770 approx).

BANK NIFTY Outlook for 15th May, 2018
 
Daily Chart Levels
In the Daily Chart Bank Nifty has closed above its 5 EMA high (26475 approx). If the Index opens above 26510, it is likely to face its first round of resistance around 26700 approx.  If the index trades above 26720, it will move up and face its next resistance around 26860approx.However if the index opens below 26450, the next area of support will be today’s low of (26340 approx).  If Bank Nifty trades below its 5 EMA high (26305 approx), it will slip down till its 5 EMA high (26250 approx).
Hourly Chart Levels
In the hourly chart if Bank Nifty closed at its 5 HEMA (26475 approx). If the index opens above 26520, its will move up and face its next resistance around its upper Bollinger band (26590approx).However if Bank Nifty opens below its 10 HMA (26440 approx), it will move down and find its next support around its5 HMA (26410approx). However if Bank Nifty breaks and trades below its 26400, it will find it the next support area around its15HMA (26350 approx).

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The votes have been cast, and the political pundits are busy finding the possible outcomes of the exit and opinion polls. The Karnataka elections have five possible scenarios that the counting of votes on Tuesday is likely to throw up. While the counting is on Nifty could see big moves on tomorrows trading session. The Nifty share price opened at 10815 this morning. The index traded in a narrow band of 60 points ahead of the election results. The Index closed below the upper Bollinger band at (10806 approx).

Stocks That Were Hammered
In today’s trading session, Titan Share price and Zee Entertainment Share price dropped 3.49% and  2.75% respectively. In the power sector NTPC share price rose2.24%.

Outlook for 15th May, 2018
Daily Chart Levels
In the daily timeframe Nifty share price closed below its upper Bollinger band (10806approx). If the index opens above10834, it will move up till 10870. However, if Nifty share price opens below its 5 EMA high (10790 approx) it is likely to find its first support around its 5 DMA (10755approx). If Nifty share price trades and sustains below10755, it will find its next support at its10 DMA (10720 approx).
Hourly Chart Levels
In the hourly chart Nifty share price has closed around its 5 HEMA high (10808 approx). If the index opens above 10815, it will see an upside move till 10840 approx. However if Nifty share price sustains above10850, it will find its next resistance area around 10870 approx. If Nifty breaks and trades below its 15 HMA high (10785 approx), it can see a correction till its next support area around 20 HMA (10770 approx).

BANK NIFTY Outlook for 15th May, 2018
 
Daily Chart Levels
In the Daily Chart Bank Nifty has closed above its 5 EMA high (26475 approx). If the Index opens above 26510, it is likely to face its first round of resistance around 26700 approx.  If the index trades above 26720, it will move up and face its next resistance around 26860approx.However if the index opens below 26450, the next area of support will be today’s low of (26340 approx).  If Bank Nifty trades below its 5 EMA high (26305 approx), it will slip down till its 5 EMA high (26250 approx).
Hourly Chart Levels
In the hourly chart if Bank Nifty closed at its 5 HEMA (26475 approx). If the index opens above 26520, its will move up and face its next resistance around its upper Bollinger band (26590approx).However if Bank Nifty opens below its 10 HMA (26440 approx), it will move down and find its next support around its5 HMA (26410approx). However if Bank Nifty breaks and trades below its 26400, it will find it the next support area around its15HMA (26350 approx).

 
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