Nifty Likely To Remain Volatile On Italian Political Crisis


Nifty, saw a bout of correction today. The index slipped 100 points from its high of 10717 and went on to make a low of 10616. Bank Of Italy Governor Ignazio Visco said  political uncertainties could lead to loss of trust amongst Italian Bond investors. Spreads between the Italian and the German Bonds spiked to five year highs.

Stocks Under The Scanner
In today’s trading session M&M and GAIL were up 2.94%, 2.14% respectively. ICICI and SBI on the other hand were down3.11% and 3.09%.

Outlook For 30th May, 2018
Daily Chart Levels
In the daily timeframe Nifty share price closed above its 34 DMA (10633 approx). The index will find its next resistance around its 15 DMA(10654approx).If the index trades below 10600 it will find its first support zone around its 10 DMA high (10590 approx).However, if Nifty share price trades below its 5 DMA ( 10570 approx) , it is likely to find its first support around its 100 DMA (10540 approx).



Hourly Chart Levels
In the hourly chart Nifty share price has closed below its mid Bollinger band (10633approx). If the index trades breaks and trades below its lower Bollinger band (10590 approx), it will find its next support around its 50 HMA (10565 approx). However if Nifty share price trades above its 5 HMA (10650approx) it will find its next resistance around its 15 HMA (10675 approx). 


Outlook For 30th May, 2018
Bank Nifty Daily Chart Levels
In the Daily Chart Bank Nifty has closed above its 5 DMA (26255 approx). The Index will find its first resistance at its 5 HEMA high (26414approx). If the index breaks and trades below 26200 its will find its next support around its 5 HMA (26160 approx). However if the index trades below its 15 HMA (26140 approx) it will find its next support at its 20 HMA (26040 approx)



Bank Nifty Hourly Chart Levels
In the hourly chart Bank Nifty closed above its 34 HMA (26255 approx). If the index breaks and trades below 26200 it will find its next support around its 100 HMA (26150 approx). However if Bank Nifty trades above 26265, it will find its next resistance around its 5 HMA ( 26328 approx).



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India’s bench mark index Nifty, saw a bout of correction today. The index slipped 100 points from its high of 10717 and went on to make a low of 10616. Bank Of Italy Governor Ignazio Visco said  political uncertainties could lead to loss of trust amongst Italian Bond investors. Spreads between the Italian and the German Bonds spiked to five year highs.

Stocks Under The Scanner
In today’s trading session M&M and GAIL were up 2.94%, 2.14% respectively. ICICI and SBI on the other hand were down3.11% and 3.09%.

Outlook For 30th May, 2018
Daily Chart Levels
In the daily timeframe Nifty share price closed above its 34 DMA (10633 approx). The index will find its next resistance around its 15 DMA(10654approx).If the index trades below 10600 it will find its first support zone around its 10 DMA high (10590 approx).However, if Nifty share price trades below its 5 DMA ( 10570 approx) , it is likely to find its first support around its 100 DMA (10540 approx).



Hourly Chart Levels
In the hourly chart Nifty share price has closed below its mid Bollinger band (10633approx). If the index trades breaks and trades below its lower Bollinger band (10590 approx), it will find its next support around its 50 HMA (10565 approx). However if Nifty share price trades above its 5 HMA (10650approx) it will find its next resistance around its 15 HMA (10675 approx). 


Outlook For 30th May, 2018
Bank Nifty Daily Chart Levels
In the Daily Chart Bank Nifty has closed above its 5 DMA (26255 approx). The Index will find its first resistance at its 5 HEMA high (26414approx). If the index breaks and trades below 26200 its will find its next support around its 5 HMA (26160 approx). However if the index trades below its 15 HMA (26140 approx) it will find its next support at its 20 HMA (26040 approx)



Bank Nifty Hourly Chart Levels
In the hourly chart Bank Nifty closed above its 34 HMA (26255 approx). If the index breaks and trades below 26200 it will find its next support around its 100 HMA (26150 approx). However if Bank Nifty trades above 26265, it will find its next resistance around its 5 HMA ( 26328 approx).



 
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