Nifty Crashes 250 Points As RBI Leaves Rates Unchanged




The Outlook for 8th October 2018
Nifty Daily Chart Levels
In today’s trading, Nifty crashed more than 250 points intraday. The index opened around 10500 and witnessed massive selling pressure around the daily lower-Bollinger band (10478approx) after the RBI left lending rates unchanged at 6.50. Nifty crashed and made a low of 10263 in the last hour of trading. Going forward, Nifty is expected to open gap down around 10170 on Monday. The index is likely to face stiff resistance around 10450 approx. If the index slips below 10150, it will scale down to 10030 approx. However, if Nifty brakes below 10000, the nearest downside target is 100 WMA(9950 approx).

Nifty Hourly Chart Levels
In the hourly session, Nifty closed below the 200 HMA (10263approx). The index is likely to find stiff resistance around the 5HEMA high(10430approx). If Nifty trades below the hourly lower-Bollinger band (10200approx), it can scale down to 10170 approx. However, if Nifty trades below10150, it will slip down to 10000 approx.





Nifty Large & Mid Cap Stocks




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India’s benchmark Nifty crashed 250 points intraday and made a low of 10263 as the Reserve Bank Of India left lending rates unchanged. In a dramatic turn of events, the 6-member monetary policy committee decided to leave the repo rates at 6.50 sighting a slowdown in the near-term inflationary target. Nifty opened around 10500 in the morning and witnessed massive selling pressure around the daily lower- Bollinger band (10478 approx) after the unexpected move by the central bank and slipped 168 points in the last hour of trading. Going forward Nifty is likely to open gap down on Monday around 10170 approx.

Stocks Under The Scanner
In today’s trade Infosys shares rose 2.16%, while Bharti Infratel shares rose 1.70%. HindPetro shares dropped  24.50% in the course of the day’s trade.



The Outlook for 8th October 2018
Nifty Daily Chart Levels
In today’s trading, Nifty crashed more than 250 points intraday. The index opened around 10500 and witnessed massive selling pressure around the daily lower-Bollinger band (10478approx) after the RBI left lending rates unchanged at 6.50. Nifty crashed and made a low of 10263 in the last hour of trading. Going forward, Nifty is expected to open gap down around 10170 on Monday. The index is likely to face stiff resistance around 10450 approx. If the index slips below 10150, it will scale down to 10030 approx. However, if Nifty brakes below 10000, the nearest downside target is 100 WMA(9950 approx).

Nifty Hourly Chart Levels
In the hourly session, Nifty closed below the 200 HMA (10263approx). The index is likely to find stiff resistance around the 5HEMA high(10430approx). If Nifty trades below the hourly lower-Bollinger band (10200approx), it can scale down to 10170 approx. However, if Nifty trades below10150, it will slip down to 10000 approx.





Nifty Large & Mid Cap Stocks




 
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