Nifty Failed To Sustain Upward Momentum Despite Gap Up Opening


Nifty failed to sustain the upward momentum despite a 70-point gap up opening today. The index opened at 11140 and faced stiff resistance around the day high of 11146 approx as Put buyers accumulated positions around that area. Nifty dropped more than 150 points intraday and made a low of 10993 midway through the day’s trade. India Vix scaled up and closed around 17.57 at 3:30 pm due to the Fed Monetary policy scheduled late in the evening. Nifty might witness excessive volatility tomorrow if The Federal Reserve rolls out an aggressively hawkish forward guidance for its rate hike trajectory. 

Stocks Under The Scanner
In today’s trade Indiabulls Housing finance shares rose 6.81%, while UPL shares rose 6.13%. Tata Motors shares dropped 3.09% in the course of the day’s trade.



The Outlook for 27th September 2018
Nifty Daily Chart Levels
In today’s session, Nifty closed 90 points below the day high at 11053 approx. The index failed to sustain the upward momentum despite opening 70 points gap up at 11140 approx. Towards the last hour of trading, India Vix climbed to 17.57 due to the Fed Monetary policy lined up in the evening. Going forward, Nifty is likely to face stiff resistance around the 5 DEMA high (11185 approx). However, if the index trades above the 10 DMA (11230 approx), it will scale up to the 15 DMA (11300 approx). On the other hand, if Nifty slips below the 100 DMA (11000 approx), it will scale down to the daily lower-Bollinger band (10975 approx)

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around the 10 HMA (11053 approx). The index is likely to find resistance around the hourly mid-Bollinger band (11128 approx). If the index trades below the 20 HMA (11000 approx), the nearest downside target is around the hourly lower- Bollinger band (10940 approx). However if Nifty trades above 11130, it will climb up to the 50 HMA (11175 approx).



 
                                                         Nifty Large & Mid Cap Stocks




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India’s benchmark Nifty failed to sustain the upward momentum despite a 70-point gap up opening today. The index opened at 11140 and faced stiff resistance around the day high of 11146 approx as Put buyers accumulated positions around that area. Nifty dropped more than 150 points intraday and made a low of 10993 midway through the day’s trade. India Vix scaled up and closed around 17.57 at 3:30 pm due to the Fed Monetary policy scheduled late in the evening. Nifty might witness excessive volatility tomorrow if The Federal Reserve rolls out an aggressively hawkish forward guidance for its rate hike trajectory. 

Stocks Under The Scanner
In today’s trade Indiabulls Housing finance shares rose 6.81%, while UPL shares rose 6.13%. Tata Motors shares dropped 3.09% in the course of the day’s trade.



The Outlook for 27th September 2018
Nifty Daily Chart Levels
In today’s session, Nifty closed 90 points below the day high at 11053 approx. The index failed to sustain the upward momentum despite opening 70 points gap up at 11140 approx. Towards the last hour of trading, India Vix climbed to 17.57 due to the Fed Monetary policy lined up in the evening. Going forward, Nifty is likely to face stiff resistance around the 5 DEMA high (11185 approx). However, if the index trades above the 10 DMA (11230 approx), it will scale up to the 15 DMA (11300 approx). On the other hand, if Nifty slips below the 100 DMA (11000 approx), it will scale down to the daily lower-Bollinger band (10975 approx)

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around the 10 HMA (11053 approx). The index is likely to find resistance around the hourly mid-Bollinger band (11128 approx). If the index trades below the 20 HMA (11000 approx), the nearest downside target is around the hourly lower- Bollinger band (10940 approx). However if Nifty trades above 11130, it will climb up to the 50 HMA (11175 approx).



 
                                                         Nifty Large & Mid Cap Stocks




 
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