Nifty Expected To See A Bounce Back Tomorrow




The Outlook for 26th October 2018
Nifty Daily Chart Levels
In today’s session, Nifty tanked 80 points from the day’s high 10165 approx. The index went on to make a low of 10080, but later recovered and closed around 10124 approx. Going forward, Nifty is likely to scale up to the 5 DMA (10224 approx). The benchmark index is likely to hit the 5DEMA high (10310 approx) if it trades above 10250 approx. On the other hand, if Nifty trades below 10055, it will slip down to 10030 approx.

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around 10125 approx. The index is likely to find resistance around the 5 HEMA high (10165approx). However, if Nifty trades above the 34 HMA (10224 approx) it will scale up to the 50 HMA( 10275approx). On the other hand, if Nifty trades below the 10100approx, it will scale down to the hourly lower-Bollinger band 10060 approx.




Nifty Large & Mid Cap Stocks




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India’s benchmark Nifty is expected to witness a sharp bounce-back tomorrow as the current option premiums have closed above 400, which is approximately 35% above the normal. The index has closed at 10124 today and is likely to scale up to the 5 DMA(10224 approx) in tomorrows session in order to normalize the additional premium in the options market. The index has sustained comfortably above the daily lower Bollinger band (10080 approx) and is likely to find resistance around the 5 DEMA high (10310 approx).

Stocks Under The Scanner
In today’s trade Wipro shares rose 3.03%, while Coal India shares rose 2.27%. Bharti Airtel shares dropped  6.28% in the course of the day’s trade.



The Outlook for 26th October 2018
Nifty Daily Chart Levels
In today’s session, Nifty tanked 80 points from the day’s high 10165 approx. The index went on to make a low of 10080, but later recovered and closed around 10124 approx. Going forward, Nifty is likely to scale up to the 5 DMA (10224 approx). The benchmark index is likely to hit the 5DEMA high (10310 approx) if it trades above 10250 approx. On the other hand, if Nifty trades below 10055, it will slip down to 10030 approx.

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around 10125 approx. The index is likely to find resistance around the 5 HEMA high (10165approx). However, if Nifty trades above the 34 HMA (10224 approx) it will scale up to the 50 HMA( 10275approx). On the other hand, if Nifty trades below the 10100approx, it will scale down to the hourly lower-Bollinger band 10060 approx.




Nifty Large & Mid Cap Stocks




 
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