Nifty Cut Gains, Fed Meet In Focus


Nifty cut its gains towards the end of the day’s trade. The Federal Reserve will declare the outcome of its policy meeting tonight. Stakes are high for equity markets across the globe. A hawkish stance by the Federal Reserve could trigger a selloff in the emerging markets. However, a flattish yield curve is indicative of the fact that the possibility of a rate hike today will be postponed until the next FOMC meeting.  Nifty closed at 10856, 14 points above its day low at 3:30 pm in the afternoon.   

Stocks Under The Scanner
In the pharma sector, Dr. Reddy share price was up 2.89% while Cipla shares rose by 2.62%. In the metal sector, Tata Steel share price was down 2.14% in today’s trading session.

The Outlook for 14th June 2018
Daily Chart Levels
In today’s trade, Nifty closed above its 5 EMA high (10857 approx). The index is likely to face its first resistance around its upper Bollinger band (10880 approx). If Nifty trades above 10890, it will see a new rally towards 10930 approx. The nearest support for the index is around its 5 DMA high (10805 approx). If the index breaks and trades below 10780 approx), it will find its next support around its 10 DMA ( 10736 approx).

Hourly Chart Levels
The hourly chart, Nifty's share price has closed around its 15 HMA  (10856 approx). If the index trades above face its 10 HMA  (10870 approx) it will see a rally till its upper Bollinger band (10905 approx). However in the hourly timeframe, Nifty will find its nearest support around its 34 HMA( 10810 approx).  


 
The Outlook For 14th June 2018
Bank Nifty Daily Chart Levels
Bank Nifty closed marginally below its 5 DEMA high ( 26642 approx ) in the daily trading chart. If the banking index trades above 26675 it will find its next resistance around the upper Bollinger band( 26965 approx). However, the index will find its nearest support around its 10 DMA (26515 approx). If Bank Nifty trades below 26500 it will find its next support around its 15 DMA (26445 approx).
Bank Nifty Hourly Chart Levels
In the hourly trading time frame, Bank Nifty took the support of its 15 HMA  and closed at ( 26640 approx ). The index is likely to face a minor resistance around the 5 HMA high( 26690 approx). If Bank Nifty breaks and trades above 26690, it will find its next round of resistance around its upper Bollinger mark ( 26780 approx).
" data-username="AMPLIFYKOLKATA" data-message="asksdfds">
India’s benchmark index Nifty cut its gains towards the end of the day’s trade. The Federal Reserve will declare the outcome of its policy meeting tonight. Stakes are high for equity markets across the globe. A hawkish stance by the Federal Reserve could trigger a selloff in the emerging markets. However, a flattish yield curve is indicative of the fact that the possibility of a rate hike today will be postponed until the next FOMC meeting.  Nifty closed at 10856, 14 points above its day low at 3:30 pm in the afternoon.   

Stocks Under The Scanner
In the pharma sector, Dr. Reddy share price was up 2.89% while Cipla shares rose by 2.62%. In the metal sector, Tata Steel share price was down 2.14% in today’s trading session.

The Outlook for 14th June 2018
Daily Chart Levels
In today’s trade, Nifty closed above its 5 EMA high (10857 approx). The index is likely to face its first resistance around its upper Bollinger band (10880 approx). If Nifty trades above 10890, it will see a new rally towards 10930 approx. The nearest support for the index is around its 5 DMA high (10805 approx). If the index breaks and trades below 10780 approx), it will find its next support around its 10 DMA ( 10736 approx).

Hourly Chart Levels
The hourly chart, Nifty's share price has closed around its 15 HMA  (10856 approx). If the index trades above face its 10 HMA  (10870 approx) it will see a rally till its upper Bollinger band (10905 approx). However in the hourly timeframe, Nifty will find its nearest support around its 34 HMA( 10810 approx).  


 
The Outlook For 14th June 2018
Bank Nifty Daily Chart Levels
Bank Nifty closed marginally below its 5 DEMA high ( 26642 approx ) in the daily trading chart. If the banking index trades above 26675 it will find its next resistance around the upper Bollinger band( 26965 approx). However, the index will find its nearest support around its 10 DMA (26515 approx). If Bank Nifty trades below 26500 it will find its next support around its 15 DMA (26445 approx).
Bank Nifty Hourly Chart Levels
In the hourly trading time frame, Bank Nifty took the support of its 15 HMA  and closed at ( 26640 approx ). The index is likely to face a minor resistance around the 5 HMA high( 26690 approx). If Bank Nifty breaks and trades above 26690, it will find its next round of resistance around its upper Bollinger mark ( 26780 approx).
Recent Articles
Sell Off In Ultratech Cement10th September 2018