Nifty Nose dives 140 Points, As US Non-farm Payroll Numbers Rise Beyond Expectation


Nifty nose-dived almost 150 points today after the US Bureau of Labor Statistics announced that the labor market added 201,000 jobs in the month of August. Nifty witnessed aggressive selling pressure around the day’s high of 11572 as expectations of a sharp rise in the US lending rates triggered panic amongst traders. Given the current economic situation, the Federal Reserve might push up the lending rates aggressively and Nifty is likely to face stiff resistance around the 5 DEMA high (11610 approx). A steep rise in the employment figures might propel America’s inflation trajectory towards the 2.8% and trigger a massive outflow of funds from the emerging markets in the coming weeks.

Stocks Under The Scanner
In today’s trade HCL Tech shares rose 1.45%, while Axis Bank shares rose 0.92 %. Bajaj Finance shares dropped 4.98% in the course of the day’s trade.



The Outlook for 11th September 2018
Nifty Daily Chart Levels
In today’s trading, Nifty witnessed heavy selling pressure around the day’s high of 11572 approx. The index slipped 143 points and went on to make a low of 11428 approx. Nifty traded below the daily mid-Bollinger band (11550 approx) for the major part of the day and closed near the day’s low at 11438 approx. Going forward, the index is likely to face the first zone of resistance around 11563 approx. If Nifty trades above 11570, it will face stiff resistance around the 5 DEMA high (11610 approx). The nearest downside target for the index is around the daily lower-Bollinger band (11315 approx).

Nifty Hourly Chart Levels
In the hourly session, Nifty closed below the 5 HEMA high (11438 approx). The index is likely to face stiff resistance around the hourly mid-Bollinger band (11530 approx). However, if Nifty breaks and trades above the 50 HMA (11545 approx), it will scale up to the 100HMA (11615 approx). The nearest downside target for Nifty is around the hourly lower-Bollinger band (11400 approx).






Nifty Large & Mid Cap Stocks



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India’s benchmark Nifty nose-dived almost 150 points today after the US Bureau of Labor Statistics announced that the labor market added 201,000 jobs in the month of August. Nifty witnessed aggressive selling pressure around the day’s high of 11572 as expectations of a sharp rise in the US lending rates triggered panic amongst traders. Given the current economic situation, the Federal Reserve might push up the lending rates aggressively and Nifty is likely to face stiff resistance around the 5 DEMA high (11610 approx). A steep rise in the employment figures might propel America’s inflation trajectory towards the 2.8% and trigger a massive outflow of funds from the emerging markets in the coming weeks.

Stocks Under The Scanner
In today’s trade HCL Tech shares rose 1.45%, while Axis Bank shares rose 0.92 %. Bajaj Finance shares dropped 4.98% in the course of the day’s trade.



The Outlook for 11th September 2018
Nifty Daily Chart Levels
In today’s trading, Nifty witnessed heavy selling pressure around the day’s high of 11572 approx. The index slipped 143 points and went on to make a low of 11428 approx. Nifty traded below the daily mid-Bollinger band (11550 approx) for the major part of the day and closed near the day’s low at 11438 approx. Going forward, the index is likely to face the first zone of resistance around 11563 approx. If Nifty trades above 11570, it will face stiff resistance around the 5 DEMA high (11610 approx). The nearest downside target for the index is around the daily lower-Bollinger band (11315 approx).

Nifty Hourly Chart Levels
In the hourly session, Nifty closed below the 5 HEMA high (11438 approx). The index is likely to face stiff resistance around the hourly mid-Bollinger band (11530 approx). However, if Nifty breaks and trades above the 50 HMA (11545 approx), it will scale up to the 100HMA (11615 approx). The nearest downside target for Nifty is around the hourly lower-Bollinger band (11400 approx).






Nifty Large & Mid Cap Stocks



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