Nifty Bounces Back 200 Points Intraday As Volatility Drops 12%




The Outlook for 3rd October 2018
Nifty Daily Chart Levels
In today’s trading, Nifty closed around the 5 DMA(11008 approx). The index witnessed major buying in 11100 Call Options as the market recovered 200 points from the day’s low of 10823 approx. 11100 Call Option buyers netted 70% returns intraday. The market recovery was triggered by a 12% drop in Options Vega. Going forward, Nifty is likely to face stiff resistance around the 5 DEMA high (11110 approx), however, if the index trades above 11120, it will scale up to the 15 DMA (11200 approx). On the other hand, if Nifty trades below 10975 approx, it will slip down till the daily lower Bollinger band (10800 approx).

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around 11008 approx. The index is likely to find resistance around the hourly upper-Bollinger band (11070approx). If the index trades below the 34 HMA (10972approx), the nearest downside target will be around the 10 HMA (10900approx). However, if Nifty trades above the 11090approx, it will climb up to the 100 HMA (11160approx).





Nifty Large Cap & Mid Cap Stocks




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India’s Nifty bounced back more than 200 points intraday as India Vix closed at 16.61 which triggered a 12% drop in market volatility. The benchmark index recovered sharply from the day low of 10823 approx, which was also a major support zone as per the Option Greeks calculation. Towards the last hour of trading, massive buying was witnessed in the 11100 Call Option due to a significant drop in options Vega. Nifty registered a high of 11036 towards the day’s end as 11100 strike Call Option buyers netted 70% returns intraday.

Stocks Under The Scanner
In today’s trade Yes Bank shares rose 8.82%, while Hindalco shares rose 6.25%. Bharti Airtel shares dropped 4.18% in the course of the day’s trade.



The Outlook for 3rd October 2018
Nifty Daily Chart Levels
In today’s trading, Nifty closed around the 5 DMA(11008 approx). The index witnessed major buying in 11100 Call Options as the market recovered 200 points from the day’s low of 10823 approx. 11100 Call Option buyers netted 70% returns intraday. The market recovery was triggered by a 12% drop in Options Vega. Going forward, Nifty is likely to face stiff resistance around the 5 DEMA high (11110 approx), however, if the index trades above 11120, it will scale up to the 15 DMA (11200 approx). On the other hand, if Nifty trades below 10975 approx, it will slip down till the daily lower Bollinger band (10800 approx).

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around 11008 approx. The index is likely to find resistance around the hourly upper-Bollinger band (11070approx). If the index trades below the 34 HMA (10972approx), the nearest downside target will be around the 10 HMA (10900approx). However, if Nifty trades above the 11090approx, it will climb up to the 100 HMA (11160approx).





Nifty Large Cap & Mid Cap Stocks




 
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