Nifty Closes Week With Negative Divergence, Major Put Buying Seen In Bank Nifty


Nifty ended its weekly session in the red revealing a strong presence of sellers and a distinct negative divergence in the weekly charts. The index traded below the 5 DEMA high (11570 approx) for the major part of the day and closed around 11557 approx. Massive selling was also witnessed in the 11600 and 11700 call options which are signs that sellers are likely to dominate the market in the coming week. The nearest downside target for Nifty is around the 15 DMA (11435 approx). Bank Nifty was also witnessed selling pressure in today's session. The banking index went on to make a low of 27787 after it lost 331 crucial points from its day high of 28118 approx. The banking index has closed below its mid-Bollinger band(27834 approx) which is an early sign that sellers are likely to dominate the proceedings next week. Bank Nifty Put option buyers have carried forward positions in 27700 and 27600 strike Put. The next downside target for Bank Nifty is around 27515 approx.

Stocks Under The Scanner
In today’s tradeVedanta shares rose 4.05%, while ONGC shares rose 1.57%.YesBank shares dropped 3.74% in the course of the day’s trade.



The Outlook for 27th August 2018
Nifty Chart Levels
In today’s trading, Nifty faced stiff resistance around its day high 11603 approx. The index has revealed ample weakness in today’s trading and has closed below its 5 DEMA high ( 11557approx) indicating the presence of sellers in the market. A negative divergence in the weekly charts has also been witnessed and the immediate downside target for Nifty is around the 15 DMA  (11435 approx).



Bank Nifty Chart Levels
In today’s trades, Bank Nifty lost 331 points after it saw a selling pressure around its day high of 28118 approx. The banking index closed below its mid Bollinger band (27834 approx) revealing a strong presence of sellers in the market. Bank Nifty is likely to face stiff resistance around the 5 DEMA high ( 28210 approx). The nearest downside target for Bank Nifty is around the 34 DMA (27515 approx).







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Nifty ended its weekly session in the red revealing a strong presence of sellers and a distinct negative divergence in the weekly charts. The index traded below the 5 DEMA high (11570 approx) for the major part of the day and closed around 11557 approx. Massive selling was also witnessed in the 11600 and 11700 call options which are signs that sellers are likely to dominate the market in the coming week. The nearest downside target for Nifty is around the 15 DMA (11435 approx). Bank Nifty was also witnessed selling pressure in today's session. The banking index went on to make a low of 27787 after it lost 331 crucial points from its day high of 28118 approx. The banking index has closed below its mid-Bollinger band(27834 approx) which is an early sign that sellers are likely to dominate the proceedings next week. Bank Nifty Put option buyers have carried forward positions in 27700 and 27600 strike Put. The next downside target for Bank Nifty is around 27515 approx.

Stocks Under The Scanner
In today’s tradeVedanta shares rose 4.05%, while ONGC shares rose 1.57%.YesBank shares dropped 3.74% in the course of the day’s trade.



The Outlook for 27th August 2018
Nifty Chart Levels
In today’s trading, Nifty faced stiff resistance around its day high 11603 approx. The index has revealed ample weakness in today’s trading and has closed below its 5 DEMA high ( 11557approx) indicating the presence of sellers in the market. A negative divergence in the weekly charts has also been witnessed and the immediate downside target for Nifty is around the 15 DMA  (11435 approx).



Bank Nifty Chart Levels
In today’s trades, Bank Nifty lost 331 points after it saw a selling pressure around its day high of 28118 approx. The banking index closed below its mid Bollinger band (27834 approx) revealing a strong presence of sellers in the market. Bank Nifty is likely to face stiff resistance around the 5 DEMA high ( 28210 approx). The nearest downside target for Bank Nifty is around the 34 DMA (27515 approx).







Large Cap & Mid Cap Gainers



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