Nifty Likely To Achieve 11050, As Global Leaders Show Solidarity At G20 Meet




The Outlook for 4th December 2018
Nifty Daily Chart Levels
In today’s trading, Nifty Future witnessed a sharp rise in demand for 11000 Call options as the index approached the support zone of 10832 approx. In the morning session, Nifty opened gap up at 10961 and registered a fresh high of 10974 approx.

Going forward, Nifty is likely to find support around the 5 DEMA high (10862.50 approx). The nearest upside target for the index is around the 100 DMA (10990.75 approx). However, if Nifty trades above 10995 approx, it is likely to scale up to 11050 approx. On the other hand, traders need to keep in mind that Nifty is likely to witness trend change if it trades below the 200 DMA (10748 approx). In case a trend change is triggered and Nifty slips below the 10 DMA (10723 approx), it will scale down to the daily mid-Bollinger band (10654 approx). For support and resistance updates during live market hours follow us on Twitter @AMPLIFYKOLKATA

Nifty Hourly Chart Levels
In the hourly session, Spot Nifty has closed above the hourly upper-Bollinger band (10884approx). The index is likely to find support around the 5HEMA high (10842approx). The nearest upside target is around the 100 HMA (10943approx). However, if the index trades below the 5 HMA (10791approx), it will scale down to the 200 HMA (10730approx). 





Bank Nifty Options Data

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Nifty futures displayed ample confidence in today’s session as the index opened 50 points gap up at 10961 approx. The index registered a high of 10974 intraday and witnessed high demand for 11000 Call options as it neared the strong support zone of 10832 approx. At the current moment, buyers have taken complete control of the market. Going forward, Nifty is likely to find support around the 5DEMA high (10862 approx). The nearest upside target for the index is around the 100 DMA (10990 approx). Details about Tuesday’s option-trade analysis can be found on the market analysis section of our website.

Stocks Under The Scanner
In today’s trade Indiabulls Housing Finance shares rose 9.98%, Yesbank shares rose 4.92%. Sunpharma shares dropped 7.53 % in the course of the day’s trade.



The Outlook for 4th December 2018
Nifty Daily Chart Levels
In today’s trading, Nifty Future witnessed a sharp rise in demand for 11000 Call options as the index approached the support zone of 10832 approx. In the morning session, Nifty opened gap up at 10961 and registered a fresh high of 10974 approx.

Going forward, Nifty is likely to find support around the 5 DEMA high (10862.50 approx). The nearest upside target for the index is around the 100 DMA (10990.75 approx). However, if Nifty trades above 10995 approx, it is likely to scale up to 11050 approx. On the other hand, traders need to keep in mind that Nifty is likely to witness trend change if it trades below the 200 DMA (10748 approx). In case a trend change is triggered and Nifty slips below the 10 DMA (10723 approx), it will scale down to the daily mid-Bollinger band (10654 approx). For support and resistance updates during live market hours follow us on Twitter @AMPLIFYKOLKATA

Nifty Hourly Chart Levels
In the hourly session, Spot Nifty has closed above the hourly upper-Bollinger band (10884approx). The index is likely to find support around the 5HEMA high (10842approx). The nearest upside target is around the 100 HMA (10943approx). However, if the index trades below the 5 HMA (10791approx), it will scale down to the 200 HMA (10730approx). 





Bank Nifty Options Data

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