Nifty Closes Below 11000 Due To Exponential Rise In Options Vega


options vega was triggered by aggressive put buying near the day’s high of 11170. The fast vega rise pushed up the volatility index by 14% which closed near 17.75 at 3:30 pm. Nifty tanked 221 points intraday and made a low of 10944. The index has closed below the daily lower-Bollinger band(10975 approx) and is likely to face stiff resistance around 11085 approx.

Stocks Under The Scanner
In today’s trade Tata Consultancy Services shares rose 4.99%, while Coal India shares rose 2.31%. Indiabulls Housing Finance shares dropped 7.26% in the course of the day’s trade.



The Outlook for 25th September 2018
Nifty Daily Chart Levels
In today’s trading session, Nifty witnessed heavy selling pressure near the day high of 11165 as major buying was witnessed in option put. Aggressive put buying triggered an exponential rise in options vega and the market tanked 221 points intraday. India Vix rose 14% intraday and closed at 17.75. Going forward if the vega continues to rise Nifty is likely to face stiff resistance around 11125 approx. The nearest downside target for Nifty is around 10870 approx, however, if the index breaks and trades below 10840 it will drop down till the 200 DMA ( 10750 approx). 

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around the 5 HMA (10974 approx). The index is likely to find stiff resistance around the 20HMA (11130approx). However if Nifty trades above the hourly mid-Bollinger band 11150, it will scale up to 34 HMA (11210approx). On the other hand if Nifty breaks and trades below 10950 approx, it will scale down to the hourly lower-Bollinger band (10880approx). 





Nifty Large & Mid Cap Stocks




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India’s benchmark Nifty closed below 11000, due to an exponential rise in options vega. The massive rise in options vega was triggered by aggressive put buying near the day’s high of 11170. The fast vega rise pushed up the volatility index by 14% which closed near 17.75 at 3:30 pm. Nifty tanked 221 points intraday and made a low of 10944. The index has closed below the daily lower-Bollinger band(10975 approx) and is likely to face stiff resistance around 11085 approx.

Stocks Under The Scanner
In today’s trade Tata Consultancy Services shares rose 4.99%, while Coal India shares rose 2.31%. Indiabulls Housing Finance shares dropped 7.26% in the course of the day’s trade.



The Outlook for 25th September 2018
Nifty Daily Chart Levels
In today’s trading session, Nifty witnessed heavy selling pressure near the day high of 11165 as major buying was witnessed in option put. Aggressive put buying triggered an exponential rise in options vega and the market tanked 221 points intraday. India Vix rose 14% intraday and closed at 17.75. Going forward if the vega continues to rise Nifty is likely to face stiff resistance around 11125 approx. The nearest downside target for Nifty is around 10870 approx, however, if the index breaks and trades below 10840 it will drop down till the 200 DMA ( 10750 approx). 

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around the 5 HMA (10974 approx). The index is likely to find stiff resistance around the 20HMA (11130approx). However if Nifty trades above the hourly mid-Bollinger band 11150, it will scale up to 34 HMA (11210approx). On the other hand if Nifty breaks and trades below 10950 approx, it will scale down to the hourly lower-Bollinger band (10880approx). 





Nifty Large & Mid Cap Stocks




 
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