Nifty Falls 181 Points Intraday, Closes Week Below 100 SMA


Put option buying around the day high of 11033 approx. Nifty broke the previous monthly low and made a new low of 10850 in the second half of trading today. Going forward, Nifty is likely to witness volatility in the coming week due to the RBI Monetary Policy scheduled on the 5th of October.

Stocks Under The Scanner
In today’s trade Axis Bank shares rose 2.71%, while ITC shares rose 1.89%. YesBank shares dropped 9.42% in the course of the day’s trade.



The Outlook for 1st October 2018
Nifty Daily Chart Levels
In today’s trading, Nifty closed at 10930 approx. The index witnessed major buying in Put options around the day’s high of 11033 approx. The benchmark index tanked 181 points intraday and made a low of 10850 approx. Going forward, the market is likely to witness a sharp rise in volatility as the RBI credit policy is scheduled on the 5th of October. Nifty is likely to face stiff resistance around the 100 SMA (11060 approx). However, if the index trades above the 5 DEMA high ( 11140approx), it will scale up to the 15 DMA (11230 approx). On the other hand, if Nifty trades below the daily lower- Bollinger band (11850 approx), it will slip down to the 200 DMA(10790 approx)

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around the 5 HMA (10930 approx). The index is likely to find resistance around the hourly mid-Bollinger band (11010 approx). If the index trades below the hourly lower-Bollinger band (10890 approx), the nearest downside target will be around 10815 approx. However, if Nifty trades above the 50 HMA (11070 approx), it will climb up to the hourly upper-Bollinger band (11110 approx).





Nifty Large & Mid Cap Stocks




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India’s benchmark Nifty tanked 181 points intraday and closed below the 100 SMA at 10930 on the last trading day of the week. The index opened around 11011 in the morning and witnessed massive Put option buying around the day high of 11033 approx. Nifty broke the previous monthly low and made a new low of 10850 in the second half of trading today. Going forward, Nifty is likely to witness volatility in the coming week due to the RBI Monetary Policy scheduled on the 5th of October.

Stocks Under The Scanner
In today’s trade Axis Bank shares rose 2.71%, while ITC shares rose 1.89%. YesBank shares dropped 9.42% in the course of the day’s trade.



The Outlook for 1st October 2018
Nifty Daily Chart Levels
In today’s trading, Nifty closed at 10930 approx. The index witnessed major buying in Put options around the day’s high of 11033 approx. The benchmark index tanked 181 points intraday and made a low of 10850 approx. Going forward, the market is likely to witness a sharp rise in volatility as the RBI credit policy is scheduled on the 5th of October. Nifty is likely to face stiff resistance around the 100 SMA (11060 approx). However, if the index trades above the 5 DEMA high ( 11140approx), it will scale up to the 15 DMA (11230 approx). On the other hand, if Nifty trades below the daily lower- Bollinger band (11850 approx), it will slip down to the 200 DMA(10790 approx)

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around the 5 HMA (10930 approx). The index is likely to find resistance around the hourly mid-Bollinger band (11010 approx). If the index trades below the hourly lower-Bollinger band (10890 approx), the nearest downside target will be around 10815 approx. However, if Nifty trades above the 50 HMA (11070 approx), it will climb up to the hourly upper-Bollinger band (11110 approx).





Nifty Large & Mid Cap Stocks




 
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