Nifty Closes First Day Of The September Series In The Neutral Zone


Nifty started the September series on a neutral note as neither the buyers nor the sellers managed to gain an upper hand in today’s session and the index closed around the day’s average trading price of 11680 approx. Nifty opened around 11665 this morning and went on to make a high of 11726 in the first hour of the day’s trade. However, the index failed to sustain the buying momentum and slipped 86 points from the day’s high. During the second half, Nifty traded below the 5 DEMA high (11710 approx) and made a low of 11641 before closing around the 200 DMA (11680 approx). The nearest support for Nifty is around the 10 DMA (11610 approx). A fresh rally in Nifty will be triggered only if it trades above the upper Bollinger band (11780 approx).

Stocks Under The Scanner
In today’s trade Dr. Reddy shares rose 4.70%, while Tech Mahindra shares rose 4.66%.YesBank shares dropped 5.18% in the course of the day’s trade.




 
The Outlook for 3rd September 2018
Nifty Chart Levels
In today’s trading, Nifty traded below the 5 DEMA high (11680 approx) for the major part of the day. The index closed around the 200 DMA (11680 approx) in the last hour of the day’s trade. The direction for the index still remains undecided as no major buying was witnessed in the 11800 Call option or the 11600 Put option. A buy trend will be triggered in Nifty only if it trades above the daily upper Bollinger band (11780 approx). However if Nifty breaks and trades below the 10 DMA( 11610approx), it will find its next support zone around the 15 DMA( 11545 approx)



Bank Nifty Chart Levels
In today’s trading, Bank Nifty opened around 27983 approx and witnessed an upward move of 170 points. The index made a high of 28151 however, failed to sustain the momentum and slipped 209 points from the day’s high. The banking index closed around the daily mid-Bollinger band (28047 approx). Bank Nifty has not indicated any clear direction yet as no buying has been witnessed in the  28200 call option and 27800 Put option. The nearest support for Bank Nifty is around the 34 DMA ( 27650 approx) and the nearest resistance for the banking index is around the 5 DEMA high (28290 approx).







Large Cap & Mid Cap Gainers





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India’s benchmark Nifty started the September series on a neutral note as neither the buyers nor the sellers managed to gain an upper hand in today’s session and the index closed around the day’s average trading price of 11680 approx. Nifty opened around 11665 this morning and went on to make a high of 11726 in the first hour of the day’s trade. However, the index failed to sustain the buying momentum and slipped 86 points from the day’s high. During the second half, Nifty traded below the 5 DEMA high (11710 approx) and made a low of 11641 before closing around the 200 DMA (11680 approx). The nearest support for Nifty is around the 10 DMA (11610 approx). A fresh rally in Nifty will be triggered only if it trades above the upper Bollinger band (11780 approx).

Stocks Under The Scanner
In today’s trade Dr. Reddy shares rose 4.70%, while Tech Mahindra shares rose 4.66%.YesBank shares dropped 5.18% in the course of the day’s trade.




 
The Outlook for 3rd September 2018
Nifty Chart Levels
In today’s trading, Nifty traded below the 5 DEMA high (11680 approx) for the major part of the day. The index closed around the 200 DMA (11680 approx) in the last hour of the day’s trade. The direction for the index still remains undecided as no major buying was witnessed in the 11800 Call option or the 11600 Put option. A buy trend will be triggered in Nifty only if it trades above the daily upper Bollinger band (11780 approx). However if Nifty breaks and trades below the 10 DMA( 11610approx), it will find its next support zone around the 15 DMA( 11545 approx)



Bank Nifty Chart Levels
In today’s trading, Bank Nifty opened around 27983 approx and witnessed an upward move of 170 points. The index made a high of 28151 however, failed to sustain the momentum and slipped 209 points from the day’s high. The banking index closed around the daily mid-Bollinger band (28047 approx). Bank Nifty has not indicated any clear direction yet as no buying has been witnessed in the  28200 call option and 27800 Put option. The nearest support for Bank Nifty is around the 34 DMA ( 27650 approx) and the nearest resistance for the banking index is around the 5 DEMA high (28290 approx).







Large Cap & Mid Cap Gainers





 
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