Market Kisses 10400 As Bulls Crush Bears After An Intense Fight




The Outlook for 1st November 2018
Nifty Daily Chart Levels
In today’s trading session, Nifty witnessed relentless buying as the bulls took over the important support zone of 10150 approx. Option premiums normalized by 18% intraday and pushed Nifty up to 10400 approx. Going forward, the benchmark index is likely to find strong support around the 5 DEMA high (10280 approx). The nearest upside target for the index is around 10516 approx. On the other hand, if Nifty trades below the 10 DMA (10220 approx), it will scale down to the 5 DMA (10183 approx).

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around the hourly upper-Bollinger band (10386 approx ). The index is likely to find support around the hourly mid-Bollinger band (10225 approx). The nearest upside target for Nifty is around the 200 HMA (10470approx). However, if the index trades below the 34 HMA (10155approx), it will slip down to the hourly lower-Bollinger band (10100 approx). 





Nifty Large & Mid Cap Stocks




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India’s benchmark Nifty witnessed an overwhelming session of buying and kissed 10400 as option premiums normalized by 18% intraday. The Bulls crushed the bears after an intense fight around the important support zone of 10150 approx. In today’s session, the index has scaled up almost 300 points and registered a high of 10400 approx. In the event of a correction, Nifty will find strong support around the 5 DEMA high (10280 approx). The nearest upside target for Nifty is around 10516 approx.

Stocks Under The Scanner
In today’s trade Tech Mahindra shares rose 8.59%, while Indiabulls Housing finance shares rose 8.17%. Coal India shares dropped  3.57% in the course of the day’s trade.



The Outlook for 1st November 2018
Nifty Daily Chart Levels
In today’s trading session, Nifty witnessed relentless buying as the bulls took over the important support zone of 10150 approx. Option premiums normalized by 18% intraday and pushed Nifty up to 10400 approx. Going forward, the benchmark index is likely to find strong support around the 5 DEMA high (10280 approx). The nearest upside target for the index is around 10516 approx. On the other hand, if Nifty trades below the 10 DMA (10220 approx), it will scale down to the 5 DMA (10183 approx).

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around the hourly upper-Bollinger band (10386 approx ). The index is likely to find support around the hourly mid-Bollinger band (10225 approx). The nearest upside target for Nifty is around the 200 HMA (10470approx). However, if the index trades below the 34 HMA (10155approx), it will slip down to the hourly lower-Bollinger band (10100 approx). 





Nifty Large & Mid Cap Stocks




 
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