Nifty Bounces Back, As European Union Says Brexit Is Positive For Britain




The Outlook for 27th November 2018
Nifty Daily Chart Levels
In today’s trading, Nifty opened gap up around 10565 approx, however, faced resistance around 10592 approx. Towards the second half of trading, Nifty took the support of the hourly lower-Bollinger band (10490 approx) as European Commission President Jean-Claude Juncker stated that Brexit was the best deal possible for Britain. The benchmark index, rallied 140 points after the European markets opened gap up at 12:30 in the afternoon. Going forward, Nifty is likely to face resistance around 10650 approx. However, if it trades above the 5 DEMA high (10685 approx), it will scale up to the 200 DMA (10730 approx). On the other hand, if Nifty trades below the 15 DMA (10580 approx), it will scale down to the daily mid-Bollinger band (10484 approx). 

Nifty Hourly Chart Levels
In the hourly session, Nifty has closed around the 34 DMA (10629 approx). The index is likely to find resistance around the hourly upper Bollinger band (10683 approx). The nearest downside target for the index is around the 20 HMA (10570 approx). However, if the index trades below the 10 HMA (10535 approx), it will scale down to the hourly lower - Bollinger band (10490 approx). 





Bank Nifty Options Data

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India’s benchmark Nifty witnessed a 140-points surprise rally intraday, as European Commission President Jean-Claude Juncker stated that Brexit was the best deal possible for Britain. Nifty took the support of the hourly lower - Bollinger band (10490 approx) around 12:15 pm, ahead of the gap up opening in the European markets at 12:30 pm. The benchmark index the scaled up to the 5 DMA (10636 approx). Going forward, Nifty is likely to face resistance around the 5 DEMA high (10685 approx). The nearest downside target for the index is around the 15 DMA (10580 approx).

Stocks Under The Scanner
In today’s trade Heromotocop shares rose 6.11%, Wipro shares rose 4.04%. ONGC shares dropped 3.45 % in the course of the day’s trade.



The Outlook for 27th November 2018
Nifty Daily Chart Levels
In today’s trading, Nifty opened gap up around 10565 approx, however, faced resistance around 10592 approx. Towards the second half of trading, Nifty took the support of the hourly lower-Bollinger band (10490 approx) as European Commission President Jean-Claude Juncker stated that Brexit was the best deal possible for Britain. The benchmark index, rallied 140 points after the European markets opened gap up at 12:30 in the afternoon. Going forward, Nifty is likely to face resistance around 10650 approx. However, if it trades above the 5 DEMA high (10685 approx), it will scale up to the 200 DMA (10730 approx). On the other hand, if Nifty trades below the 15 DMA (10580 approx), it will scale down to the daily mid-Bollinger band (10484 approx). 

Nifty Hourly Chart Levels
In the hourly session, Nifty has closed around the 34 DMA (10629 approx). The index is likely to find resistance around the hourly upper Bollinger band (10683 approx). The nearest downside target for the index is around the 20 HMA (10570 approx). However, if the index trades below the 10 HMA (10535 approx), it will scale down to the hourly lower - Bollinger band (10490 approx). 





Bank Nifty Options Data

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