Nifty Ends Week On A High, Bull Run To Continue If It Holds Above 10795


Nifty signed off the week on a high and closed near its upper Bollinger band (11017 approx). The index opened at 11052, approximately 30 points above its previous close. In today’s session, the index traded in a range of 70 points between 11070 and 11000 and closed 52 points below its intraday high. Today is the last trading day of the current week, profit booking was seen amongst major market participants. In the options space, both call and put option writers were active in the market. According to the Amplify Algorithm Option calculations, Nifty unlikely to see fast selling in the coming days and the 10795 level will continue to play a pivotal thresh hold for the buyers.

Stocks Under The Scanner
In today's trade Titan share price rose 3.72%, while BPCL share price was also up 2.57%. Shares of Zee entertainment were down 4.54%



The Outlook for 16th July 2018
Daily Chart Levels
In today's trade, Nifty share price took the support of its 5 DEMA high( 11000 approx). The index closed confidently around its upper Bollinger band (11018 approx). Nifty is likely to face stiff resistance in the coming days around its weekly upper Bollinger band ( 11092 approx). If the index breaks and trades below its 5 DMA ( 10955 approx), it is likely to find its next support around its 10 DMA( 10844 approx). However, the crucial support of the index remains around its 34 DMA (10765 approx), below which fast selling can be seen in Nifty.



Hourly Chart Levels
In the hourly trades, the Nifty share price had taken the support of its 34 HMA ( 10977 approx). The index is likely to face stiff resistance around its 5 HEMA high ( 11033 approx). However if Nifty breaks and trades below 10970, it will find its next support area around its 50 HMA ( 10920 approx)





 
The Outlook For 16th July 2018
Bank Nifty Daily Chart Levels
In today’s trade, Bank Nifty share price closed marginally below its 5 DEMA high (26936 approx). The index is likely to find its nearest support around its 5 DMA (26885 approx). Bank Nifty will face stiff resistance around its weekly upper Bollinger band (27536  approx). The crucial support for Bank Nifty still remains around its 34 DMA ( 26525 approx)



Bank Nifty Hourly Chart Levels
In the hourly trades, Bank Nifty share price closed around its 34 HMA( 26935 approx). The index is likely to take the support of its 50 HMA ( 26823 approx). If Bank Nifty breaks and trades above its 10 HMA (26975 approx), it is likely to find its next resistance around its 20 HMA  ( 26980 approx).





Large Cap & Mid Cap Gainers





GLOBAL PERSPECTIVE



The Dollar Index is currently trading near its three weeks high at 95.14 after the recent intervention in the Chinese Yuan by the PBOC. The US 10 year Treasury Yield is trading at 2.85 which is marginally below its current week high of 2.875. The above indicators are not hinting at any major uncertainties in the global markets in the aftermath of the US-China Trade war.



In the above grid, we can see that most global currencies are trading strongly with the exception of the Chinese Yuan which has been devalued by the PBOC on the 12th July 2018.
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India’s benchmark Nifty signed off the week on a high and closed near its upper Bollinger band (11017 approx). The index opened at 11052, approximately 30 points above its previous close. In today’s session, the index traded in a range of 70 points between 11070 and 11000 and closed 52 points below its intraday high. Today is the last trading day of the current week, profit booking was seen amongst major market participants. In the options space, both call and put option writers were active in the market. According to the Amplify Algorithm Option calculations, Nifty unlikely to see fast selling in the coming days and the 10795 level will continue to play a pivotal thresh hold for the buyers.

Stocks Under The Scanner
In today's trade Titan share price rose 3.72%, while BPCL share price was also up 2.57%. Shares of Zee entertainment were down 4.54%



The Outlook for 16th July 2018
Daily Chart Levels
In today's trade, Nifty share price took the support of its 5 DEMA high( 11000 approx). The index closed confidently around its upper Bollinger band (11018 approx). Nifty is likely to face stiff resistance in the coming days around its weekly upper Bollinger band ( 11092 approx). If the index breaks and trades below its 5 DMA ( 10955 approx), it is likely to find its next support around its 10 DMA( 10844 approx). However, the crucial support of the index remains around its 34 DMA (10765 approx), below which fast selling can be seen in Nifty.



Hourly Chart Levels
In the hourly trades, the Nifty share price had taken the support of its 34 HMA ( 10977 approx). The index is likely to face stiff resistance around its 5 HEMA high ( 11033 approx). However if Nifty breaks and trades below 10970, it will find its next support area around its 50 HMA ( 10920 approx)





 
The Outlook For 16th July 2018
Bank Nifty Daily Chart Levels
In today’s trade, Bank Nifty share price closed marginally below its 5 DEMA high (26936 approx). The index is likely to find its nearest support around its 5 DMA (26885 approx). Bank Nifty will face stiff resistance around its weekly upper Bollinger band (27536  approx). The crucial support for Bank Nifty still remains around its 34 DMA ( 26525 approx)



Bank Nifty Hourly Chart Levels
In the hourly trades, Bank Nifty share price closed around its 34 HMA( 26935 approx). The index is likely to take the support of its 50 HMA ( 26823 approx). If Bank Nifty breaks and trades above its 10 HMA (26975 approx), it is likely to find its next resistance around its 20 HMA  ( 26980 approx).





Large Cap & Mid Cap Gainers





GLOBAL PERSPECTIVE



The Dollar Index is currently trading near its three weeks high at 95.14 after the recent intervention in the Chinese Yuan by the PBOC. The US 10 year Treasury Yield is trading at 2.85 which is marginally below its current week high of 2.875. The above indicators are not hinting at any major uncertainties in the global markets in the aftermath of the US-China Trade war.



In the above grid, we can see that most global currencies are trading strongly with the exception of the Chinese Yuan which has been devalued by the PBOC on the 12th July 2018.
 
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