Nifty Plunges On No-Trust Motion, Crucial Support At 10 SMA


Nifty plunged more than 100 points in today’s session after the index opened 50 points gap up at 11058 in the morning today. Around 12 in the afternoon, fast selling was seen as a no-trust motion was moved against the incumbent government in the Parliament. The benchmark index fell sharply from 11055 and went on to make a low of 10955 in a matter of 10 minutes. Today’s selling has still not pushed Nifty into the selling zone. The Options premiums are indicating that a close fight between the buyers and sellers is due to unfold tomorrow. 10915 will remain a crucial support for the buyers and there is a possibility of a strong reversal from this area.  However, if the buyers fail to sustain the market above 10900, Nifty will see a second round of selling till 10820.

Stocks Under The Scanner
In today's trade India Bulls Housing Finance share price rose 4.03%, while ONGC share price was also up 2.66%. Shares of Tata Steel were down 5.15%



The Outlook for 19th July 2018
Daily Chart Levels
In today's trading, Nifty underwent panic selling and gave away 117 points from its intraday high of 11075. The index made a low of 10957 around 12:20 in the afternoon. Towards the end of the day’s trading, Nifty closed below its 5 DMA (10980 approx). The nearest support for Nifty is around its 10 DMA (10915 approx). However if Nifty breaks and trades below 10900, it will find its next support area around its 20 DMA( 10820 approx). If the buyers take over tomorrow and Nifty trades above its 5 DEMA high (11036 approx), it will find its next resistance around its upper Bollinger band (11085 approx) 



Hourly Chart Levels
In the hourly charts, the Nifty share price has closed around its 5 HEMA  ( 10980 approx). The index is likely to find its support around its lower hourly Bollinger band (10915 approx). If the buyers take control of the market tomorrow, Nifty is likely to face its first resistance around its 10 HMA ( 11010  approx). However if Nifty breaks and trades below its 100 HMA (10880 approx), it will find its next support around its 200 HMA (10810 approx).





The Outlook For 19th July 2018
Bank Nifty Daily Chart Levels
In today’s trading session, Bank Nifty share price closed around 26881 approx. The index is likely to find its nearest support around its 10 DMA (26800 approx). However Bank Nifty will face stiff resistance around its 5 DEMA high (27056 approx). If Bank Nifty breaks and trades below 26750, it will find its nearest support at 15 DMA (26630 approx). 



Bank Nifty Hourly Chart Levels
In the hourly trading scenario, Bank Nifty share price closed around its 20 HMA ( 26880 approx). The index is likely to find a strong support around its 100 HMA ( 26700 approx). Bank Nifty will face its next zone of resistance around its 15 HMA (26950 approx).





Large Cap, Mid Cap & Small Cap Gainers






GLOBAL PERSPECTIVE



The Dollar Index is trading flat while the US Treasury yield is marginally below its previous close indicating no major uncertainties in the global market in the current moment. 



Most of the Global currencies are trading flat compared to their previous close.

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Nifty plunged more than 100 points in today’s session after the index opened 50 points gap up at 11058 in the morning today. Around 12 in the afternoon, fast selling was seen as a no-trust motion was moved against the incumbent government in the Parliament. The benchmark index fell sharply from 11055 and went on to make a low of 10955 in a matter of 10 minutes. Today’s selling has still not pushed Nifty into the selling zone. The Options premiums are indicating that a close fight between the buyers and sellers is due to unfold tomorrow. 10915 will remain a crucial support for the buyers and there is a possibility of a strong reversal from this area.  However, if the buyers fail to sustain the market above 10900, Nifty will see a second round of selling till 10820.

Stocks Under The Scanner
In today's trade India Bulls Housing Finance share price rose 4.03%, while ONGC share price was also up 2.66%. Shares of Tata Steel were down 5.15%



The Outlook for 19th July 2018
Daily Chart Levels
In today's trading, Nifty underwent panic selling and gave away 117 points from its intraday high of 11075. The index made a low of 10957 around 12:20 in the afternoon. Towards the end of the day’s trading, Nifty closed below its 5 DMA (10980 approx). The nearest support for Nifty is around its 10 DMA (10915 approx). However if Nifty breaks and trades below 10900, it will find its next support area around its 20 DMA( 10820 approx). If the buyers take over tomorrow and Nifty trades above its 5 DEMA high (11036 approx), it will find its next resistance around its upper Bollinger band (11085 approx) 



Hourly Chart Levels
In the hourly charts, the Nifty share price has closed around its 5 HEMA  ( 10980 approx). The index is likely to find its support around its lower hourly Bollinger band (10915 approx). If the buyers take control of the market tomorrow, Nifty is likely to face its first resistance around its 10 HMA ( 11010  approx). However if Nifty breaks and trades below its 100 HMA (10880 approx), it will find its next support around its 200 HMA (10810 approx).





The Outlook For 19th July 2018
Bank Nifty Daily Chart Levels
In today’s trading session, Bank Nifty share price closed around 26881 approx. The index is likely to find its nearest support around its 10 DMA (26800 approx). However Bank Nifty will face stiff resistance around its 5 DEMA high (27056 approx). If Bank Nifty breaks and trades below 26750, it will find its nearest support at 15 DMA (26630 approx). 



Bank Nifty Hourly Chart Levels
In the hourly trading scenario, Bank Nifty share price closed around its 20 HMA ( 26880 approx). The index is likely to find a strong support around its 100 HMA ( 26700 approx). Bank Nifty will face its next zone of resistance around its 15 HMA (26950 approx).





Large Cap, Mid Cap & Small Cap Gainers






GLOBAL PERSPECTIVE



The Dollar Index is trading flat while the US Treasury yield is marginally below its previous close indicating no major uncertainties in the global market in the current moment. 



Most of the Global currencies are trading flat compared to their previous close.

 
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