Nifty Closes Week On A Positive Note, Will Find Support At 10320




The Outlook for 15th October 2018
Nifty Daily Chart Levels
In today’s trading session, Nifty witnessed strong buying after 100 points gap up opening at 10330 approx. The benchmark index has recovered more than 350 points from the recent low of 10139 in the last two trading sessions. Going forward, the nearest upside target for Nifty is around 10 DMA (10570 approx). Nifty will find the first support zone around 10320 approx. However, if the index slips below 10300 approx, it will scale down to 10160 approx.

Nifty Hourly Chart Levels
In the hourly session, Nifty closed above the 5 HEMA high (10472 approx). The index is likely to find strong support around the hourly upper-Bollinger band (10320 approx). The nearest upside target for the index is around the hourly mid-Bollinger band (10570 approx). However, if Nifty trades below 10445 approx, it will scale down to the hourly mid-Bollinger band (10350 approx)





Nifty Large & Mid Cap Stocks




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India’s benchmark Nifty closed the week on a positive note at 10472 approx. The index has recovered more than 350 points in the last two trading sessions. Nifty opened almost 100 points gap up this morning and is likely to take the support of the weekly lower-Bollinger band (10320 approx) in the coming days. In today’s session, the index has sustained above 10360 for the major part of the day and closed near the 5DEMA high (10472 approx). The Index Options analysis is indicating that Nifty is likely to scale up to the 10 DMA (10570 approx) in the next couple of trading sessions.

Stocks Under The Scanner
In today’s trade Maruti shares rose 6.22%, while Bajaj Finance shares rose 5.73%. TCS shares dropped  3.03% in the course of the day’s trade.



The Outlook for 15th October 2018
Nifty Daily Chart Levels
In today’s trading session, Nifty witnessed strong buying after 100 points gap up opening at 10330 approx. The benchmark index has recovered more than 350 points from the recent low of 10139 in the last two trading sessions. Going forward, the nearest upside target for Nifty is around 10 DMA (10570 approx). Nifty will find the first support zone around 10320 approx. However, if the index slips below 10300 approx, it will scale down to 10160 approx.

Nifty Hourly Chart Levels
In the hourly session, Nifty closed above the 5 HEMA high (10472 approx). The index is likely to find strong support around the hourly upper-Bollinger band (10320 approx). The nearest upside target for the index is around the hourly mid-Bollinger band (10570 approx). However, if Nifty trades below 10445 approx, it will scale down to the hourly mid-Bollinger band (10350 approx)





Nifty Large & Mid Cap Stocks




 
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