Nifty Ends Week With A Hint Of Uncertainty, Forms A Doji In The Daily Candle




The Outlook for 22nd October 2018
Nifty Daily Chart Levels
In today’s trading,  Nifty underwent heavy selling pressure as it faced stiff resistance around the 10 HMA (10365 approx).  Selling intensified in today’s session after the India Vix crossed over 18 and touched 20. The benchmark index has plunged more than 4% from the recent high of 10710 in the last two trading sessions. Going forward, Nifty is likely to face stiff resistance around the 10 DMA( 10390 approx). However, if the index trades above 10415 approx, it will scale up to the 5DMA (10480 approx). On the other hand, if Nifty trades below 10220 approx, it will slip down to 10184 approx. It is important to note that if the index breaks below 10170 approx, it will drop down to the daily lower –Bollinger band (10030 approx).

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around the 5 HMA (10304 approx). The index is likely to face stiff resistance around the 5 HEMA high (10350 approx). However, if Nifty trades below 10290 approx, it will scale down to the hourly lower-Bollinger band (10185 approx). 




Nifty Large & Mid Cap Stocks



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Nifty opened 130 points gap down today and plunged more than 4% from the recent high of 10710 in just two trading sessions. The index witnessed massive selling pressure around the 10 HMA (10365 approx) today and underwent selling at every bounce back of 50-60 points. India Vix crossed 18 and touched  20 in today's session and added fire to the selling momentum. Nifty plunged more than 120 points today from the day's high of 10378 approx and registered a low of 10250 approx. Put options buyers ruled the market for the major part of the day. The 10300 and 10200 strike Put option buyers generated 131% and 150% returns on their investments intraday. On the closing basis, Nifty has formed a Doji in the daily candle which underlines the lack of confidence in the market sentiment. The index is likely to slip down to 10184 approx in the coming week. 

Stocks Under The Scanner
In today’s trade Hindustan Petroleum shares rose 4.00%, while Sunpharma shares rose 2.59%. Indiabulls Housing Finance shares dropped 16.43% in the course of the day’s trade.



The Outlook for 22nd October 2018
Nifty Daily Chart Levels
In today’s trading,  Nifty underwent heavy selling pressure as it faced stiff resistance around the 10 HMA (10365 approx).  Selling intensified in today’s session after the India Vix crossed over 18 and touched 20. The benchmark index has plunged more than 4% from the recent high of 10710 in the last two trading sessions. Going forward, Nifty is likely to face stiff resistance around the 10 DMA( 10390 approx). However, if the index trades above 10415 approx, it will scale up to the 5DMA (10480 approx). On the other hand, if Nifty trades below 10220 approx, it will slip down to 10184 approx. It is important to note that if the index breaks below 10170 approx, it will drop down to the daily lower –Bollinger band (10030 approx).

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around the 5 HMA (10304 approx). The index is likely to face stiff resistance around the 5 HEMA high (10350 approx). However, if Nifty trades below 10290 approx, it will scale down to the hourly lower-Bollinger band (10185 approx). 




Nifty Large & Mid Cap Stocks



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