Nifty Closes Above 100 SMA, As Vix Drops 5% Below It’s Previous Close


recovery of 185 points from the day low of 10883 in the last hour of trading today as Vix dropped 5% below the previous day’s close. The benchmark index closed confidently above the 100 DMA (11067 approx) as put options underwent heavy selling, 30 mins before the closing bell. The 11000, 10900 and 10800 strike puts lost 76%, 79%,83% of their values intraday due to the sudden drop in the volatility index. Going forward, today’s closing of 11067 will play a decisive role in deciding the short-term trend of the market. 

Stocks Under The Scanner
In today’s trade Kotak Bank shares rose 3.26%, while HDFC shares rose 3.18%. Indiabulls Housing Finance shares dropped 5.26% in the course of the day’s trade.



The Outlook for 26th September 2018
Nifty Daily Chart Levels
In today’s trading, Nifty closed confidently above the 100 DMA (11067 approx) as Vix slipped 5% below the previous day’s close. Major selling was witnessed in the put options in the last hour of trading. The 11000, 10900 and 10800 put options lost 76%, 79%, 83% of their values respectively. Going forward, Nifty is likely to find a support around 11010, and the nearest upside target for the index is around the 5 DEMA high (11190 approx). However, if Nifty trades below 10990, it will slip down to 10975 approx.

Nifty Hourly Chart Levels
In the hourly session, Nifty closed above the 5 HEMA high (11067approx). The index is likely to find support around the 20 HMA (11010 approx). The nearest upside target is around the 34HMA (11125approx). However if Nifty trades below the hourly 10 HMA (10985 approx), it slips down to the hourly lower-Bollinger band (10874 approx).





Nifty Large & Mid Cap Stocks





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Nifty witnessed a sharp recovery of 185 points from the day low of 10883 in the last hour of trading today as Vix dropped 5% below the previous day’s close. The benchmark index closed confidently above the 100 DMA (11067 approx) as put options underwent heavy selling, 30 mins before the closing bell. The 11000, 10900 and 10800 strike puts lost 76%, 79%,83% of their values intraday due to the sudden drop in the volatility index. Going forward, today’s closing of 11067 will play a decisive role in deciding the short-term trend of the market. 

Stocks Under The Scanner
In today’s trade Kotak Bank shares rose 3.26%, while HDFC shares rose 3.18%. Indiabulls Housing Finance shares dropped 5.26% in the course of the day’s trade.



The Outlook for 26th September 2018
Nifty Daily Chart Levels
In today’s trading, Nifty closed confidently above the 100 DMA (11067 approx) as Vix slipped 5% below the previous day’s close. Major selling was witnessed in the put options in the last hour of trading. The 11000, 10900 and 10800 put options lost 76%, 79%, 83% of their values respectively. Going forward, Nifty is likely to find a support around 11010, and the nearest upside target for the index is around the 5 DEMA high (11190 approx). However, if Nifty trades below 10990, it will slip down to 10975 approx.

Nifty Hourly Chart Levels
In the hourly session, Nifty closed above the 5 HEMA high (11067approx). The index is likely to find support around the 20 HMA (11010 approx). The nearest upside target is around the 34HMA (11125approx). However if Nifty trades below the hourly 10 HMA (10985 approx), it slips down to the hourly lower-Bollinger band (10874 approx).





Nifty Large & Mid Cap Stocks





 
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