Nifty Ends Week On Bullish Note Ahead Of Karnataka Elections


Hourly Chart Levels
In the hourly chart Nifty share price has closed above its upper Bollinger band (10807approx). If the index opens above 10815, it will see an upside move till10845 approx. However if Nifty share price sustains above10860, it will find its next resistance area around 10900 approx. If Nifty breaks and trades below its 5 EMA high (10780 approx), it can see a correction till its next support area around 15HMA (10745 approx).

BANK NIFTY Outlook for 14th May, 2018
 
Daily Chart Levels
In the Daily Chart Bank Nifty has closed above its upper Bollinger band (26413 approx). If the Index opens above 26450, it is likely to face its first round of resistance around 26528 approx.  If the index trades above 26550on Monday, it will move up and face its next resistance around 26700approx. However if the index opens below 26400, the next area of support will be its upper Bollinger band (26350 approx).  If Bank Nifty trades below26300, it will slip down till its 5 EMA high (26180approx).
 
Hourly Chart Levels
In the hourly chart if Bank Nifty opens above 26430 on Monday, it will move up and face its next resistance around its 26450 approx).However if Bank Nifty opens below 26400, it will move down and find its next support around its upper Bollinger Ban d(26365 approx). However if Bank Nifty breaks and trades below its 26340, it will find it’s the next support area around its 20 HMA (26200 approx).

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Nifty opened 27 points up this morning at 10744.The Index went on to make a high of 10811 and closed near its upper Bollinger Band (10806 approx).

Stocks That Were Hammered
In today’s trading session, shares of Asia Paints rose 5.53%, while Hindustan Petroleum rose 3.52%.In the telecom space Bharti Airtel fell 6.32% while Sun Pharma shares corrected 5.33%

Outlook for 14th May, 2018
Daily Chart Levels
In the daily timeframe Nifty share price closed around its upper Bollinger band (10813 approx). If the index opens above10813.it will move up till 10845. However, if Nifty share price opensbelow10790, it is likely to find its first support around its5 EMA (10775approx). If Nifty share price trades and sustains below10765, it will find its next support at its5 DMA (10740approx).
Hourly Chart Levels
In the hourly chart Nifty share price has closed above its upper Bollinger band (10807approx). If the index opens above 10815, it will see an upside move till10845 approx. However if Nifty share price sustains above10860, it will find its next resistance area around 10900 approx. If Nifty breaks and trades below its 5 EMA high (10780 approx), it can see a correction till its next support area around 15HMA (10745 approx).

BANK NIFTY Outlook for 14th May, 2018
 
Daily Chart Levels
In the Daily Chart Bank Nifty has closed above its upper Bollinger band (26413 approx). If the Index opens above 26450, it is likely to face its first round of resistance around 26528 approx.  If the index trades above 26550on Monday, it will move up and face its next resistance around 26700approx. However if the index opens below 26400, the next area of support will be its upper Bollinger band (26350 approx).  If Bank Nifty trades below26300, it will slip down till its 5 EMA high (26180approx).
 
Hourly Chart Levels
In the hourly chart if Bank Nifty opens above 26430 on Monday, it will move up and face its next resistance around its 26450 approx).However if Bank Nifty opens below 26400, it will move down and find its next support around its upper Bollinger Ban d(26365 approx). However if Bank Nifty breaks and trades below its 26340, it will find it’s the next support area around its 20 HMA (26200 approx).

 
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