Nifty Falls 140 Points Intraday, As Selling Intensifies Around 11415


selling ramped up around the 10 DMA mark (11415 approx). The index closed around 11378 yesterday, however, found no buyers for the 11415-auction price today, which quickly turned into an important zone of resistance. Nifty opened at 11377 in the morning and slipped below the 50 DMA and went on to make a low of 11270. In the last three trading sessions, Nifty has fallen more than 250 points from the recent high of 11523. Going forward if the benchmark index fails to sustain above 11255 it is likely to witness further downside till 11200.

Stocks Under The Scanner
In today’s trade Hindustan Unilever shares rose 3.70%, while Yes Bank shares rose 1.88%. State bank of India shares dropped 4.10% in the course of the day’s trade.



The Outlook for 19th September 2018
Nifty Daily Chart Levels
In today’s trading, Nifty opened at 11377 and faced intense selling pressure around the day’s high of 11410. Early in the day, the index failed to trade above the crucial zone of 11415 which quickly turned into a stiff resistance and Nifty tanked 140 points intraday. Going forward, if the index slips below 11255, the immediate downside target will be 11200 approx. However, if Nifty trades above 11378, it is likely to scale up to 11450 approx.

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around 11279 approx. The index is likely to find stiff resistance around the 5 HEMA high (11350approx). However if Nifty trades above the 15 HMA (11375 approx), the nearest upside target is around the 50 HMA (11410 approx). On the other hand if Nifty breaks and trades below 11250approx, it will scale down to 11200 approx.





Nifty Large & Mid Cap Stocks




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Nifty tanked 140 points intraday as selling ramped up around the 10 DMA mark (11415 approx). The index closed around 11378 yesterday, however, found no buyers for the 11415-auction price today, which quickly turned into an important zone of resistance. Nifty opened at 11377 in the morning and slipped below the 50 DMA and went on to make a low of 11270. In the last three trading sessions, Nifty has fallen more than 250 points from the recent high of 11523. Going forward if the benchmark index fails to sustain above 11255 it is likely to witness further downside till 11200.

Stocks Under The Scanner
In today’s trade Hindustan Unilever shares rose 3.70%, while Yes Bank shares rose 1.88%. State bank of India shares dropped 4.10% in the course of the day’s trade.



The Outlook for 19th September 2018
Nifty Daily Chart Levels
In today’s trading, Nifty opened at 11377 and faced intense selling pressure around the day’s high of 11410. Early in the day, the index failed to trade above the crucial zone of 11415 which quickly turned into a stiff resistance and Nifty tanked 140 points intraday. Going forward, if the index slips below 11255, the immediate downside target will be 11200 approx. However, if Nifty trades above 11378, it is likely to scale up to 11450 approx.

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around 11279 approx. The index is likely to find stiff resistance around the 5 HEMA high (11350approx). However if Nifty trades above the 15 HMA (11375 approx), the nearest upside target is around the 50 HMA (11410 approx). On the other hand if Nifty breaks and trades below 11250approx, it will scale down to 11200 approx.





Nifty Large & Mid Cap Stocks




 
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