Nifty October Expiry Likely To Close Between 10320 and 10200




The Outlook for 25th October 2018
Nifty Daily Chart Levels
In today’s trading, Nifty witnessed selling pressure around the 5 DMA (10280 approx) after opening 160 points gap up in the morning. The index fell 160 points intraday and made a low of 10127 approx. In the last 30 mins, however, Nifty witnessed massive short covering and closed around 10225 approx. Going forward, the index is likely to scale up to the 5 DEMA high (10370 approx) if it trades above the 5 DMA ( 10290approx). On the other hand, if the index trades below 10200 approx, it will scale down to 10100 approx.

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around the 5 HEMA high ( 10225 approx). The index is likely to find resistance around the 34 HMA (10280approx). However, if Nifty trades above 10290 it will again find strong resistance around the 100 HMA( 10370 approx). On the other hand, if Nifty trades below the 15 HMA( 10180approx), it will scale down to the hourly lower-Bollinger band (10100 approx).




 

Nifty Large & Mid Cap Stocks



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Nifty witnessed a volatile trading session today after opening 140 points gap up at 10285 approx. The index fell almost 160 points from the day’s high of 10286 and then recovered a little over 100 points due to short covering at the close. On the 22nd of October, sellers had built high volume short positions in Nifty around the 10 DMA (10390 approx). Since then, the index has plunged almost 300 points and made a low of 10102 yesterday. Today, a massive short covering was witnessed in the last 30 mins and Nifty closed at 10225 approx. Tomorrow being the last trading day of the October series, the second round of short covering is likely on the cards. Thus, Nifty is likely to close the October series between 10320 and 10200 approx. 

Stocks Under The Scanner
In today’s trade Bajaj Finance shares rose 11.97%, while Bharti Airtel shares rose 8.97%. Bajaj Auto shares dropped  4.54% in the course of the day’s trade.



The Outlook for 25th October 2018
Nifty Daily Chart Levels
In today’s trading, Nifty witnessed selling pressure around the 5 DMA (10280 approx) after opening 160 points gap up in the morning. The index fell 160 points intraday and made a low of 10127 approx. In the last 30 mins, however, Nifty witnessed massive short covering and closed around 10225 approx. Going forward, the index is likely to scale up to the 5 DEMA high (10370 approx) if it trades above the 5 DMA ( 10290approx). On the other hand, if the index trades below 10200 approx, it will scale down to 10100 approx.

Nifty Hourly Chart Levels
In the hourly session, Nifty closed around the 5 HEMA high ( 10225 approx). The index is likely to find resistance around the 34 HMA (10280approx). However, if Nifty trades above 10290 it will again find strong resistance around the 100 HMA( 10370 approx). On the other hand, if Nifty trades below the 15 HMA( 10180approx), it will scale down to the hourly lower-Bollinger band (10100 approx).




 

Nifty Large & Mid Cap Stocks



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