Nifty Recovers Sharply, As Crude Oil Trades Below Its Two-Month Support


Nifty bounced back from its intraday day low of 10927 and went on to make a high of 11017 towards the last hour of the day’s trading session. The index opened flat in the morning and recovered sharply by 90 points from its low. Brent crude prices fell below its two-month low of $72.38 in the course of the day.  Brent crude prices dropped to $71.50 a barrel as disputes over the supply eased and talks were underway to increase the production of the commodity in the weeks ahead. This could trigger a likely upward move in Nifty tomorrow as options premiums indicated a strong presence of buyers in the market today. Nifty is likely to open around 11018 tomorrow and a fresh bull run can be seen if it trades above its upper Bollinger band (11061 approx).

Stocks Under The Scanner
In today's trade Hind Petro share price rose 7.15%, while IOC share price was also up 4.89%. Shares of HUL were down 3.61%



The Outlook for 18th July 2018
Daily Chart Levels
In today's trading session, Nifty share price closed around its 5 DEMA high( 11008 approx). The index displayed ample signs of resilience today, even as it recovered 90 points from its day’s low of 10927 and option buyers were quick to buy call options towards the end of the trading session. The index is likely to face its nearest resistance around its upper Bollinger band ( 11061 approx). If the index breaks and trades above this crucial area, it will find its next resistance around its weekly upper Bollinger band (11150 approx). However if Nifty trades below its crucial support of 10 DMA (10902 approx), it will find its next support around its 20 DMA ( 10810 approx).



 
Hourly Chart Levels
In the hourly charts, the Nifty share price has closed above its 5 HEMA high ( 11008 approx). The index is likely to face its first round of resistance around its hourly upper Bollinger band ( 11041  approx). However if Nifty breaks and trades below its 34 HMA (11000 approx), it will find its next support around its 10 HMA( 10970 approx)





 
The Outlook For 18th July 2018
Bank Nifty Daily Chart Levels
In today’s trade, Bank Nifty share price closed above its 5 DEMA high (27008 approx). The index is likely to find its nearest support around its 5 DMA (26890 approx). However Bank Nifty will face its first resistance around its upper Bollinger band (27090  approx). The crucial support for Bank Nifty still remains around its 20 DMA ( 26606 approx)



Bank Nifty Hourly Chart Levels
In the hourly trading time frame, Bank Nifty share price closed around 27008 approx. The index is likely to find a strong support around 34 HMA ( 26900 approx). Bank Nifty will face its next zone of resistance around its hourly upper Bollinger band (27045 approx).





Large Cap, Mid Cap & Small Cap Gainers






GLOBAL PERSPECTIVE


The Dollar Index and US Treasury yield is trading flat indicating no major uncertainties in the global market in the current moment. 



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

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India’s benchmark index Nifty bounced back from its intraday day low of 10927 and went on to make a high of 11017 towards the last hour of the day’s trading session. The index opened flat in the morning and recovered sharply by 90 points from its low. Brent crude prices fell below its two-month low of $72.38 in the course of the day.  Brent crude prices dropped to $71.50 a barrel as disputes over the supply eased and talks were underway to increase the production of the commodity in the weeks ahead. This could trigger a likely upward move in Nifty tomorrow as options premiums indicated a strong presence of buyers in the market today. Nifty is likely to open around 11018 tomorrow and a fresh bull run can be seen if it trades above its upper Bollinger band (11061 approx).

Stocks Under The Scanner
In today's trade Hind Petro share price rose 7.15%, while IOC share price was also up 4.89%. Shares of HUL were down 3.61%



The Outlook for 18th July 2018
Daily Chart Levels
In today's trading session, Nifty share price closed around its 5 DEMA high( 11008 approx). The index displayed ample signs of resilience today, even as it recovered 90 points from its day’s low of 10927 and option buyers were quick to buy call options towards the end of the trading session. The index is likely to face its nearest resistance around its upper Bollinger band ( 11061 approx). If the index breaks and trades above this crucial area, it will find its next resistance around its weekly upper Bollinger band (11150 approx). However if Nifty trades below its crucial support of 10 DMA (10902 approx), it will find its next support around its 20 DMA ( 10810 approx).



 
Hourly Chart Levels
In the hourly charts, the Nifty share price has closed above its 5 HEMA high ( 11008 approx). The index is likely to face its first round of resistance around its hourly upper Bollinger band ( 11041  approx). However if Nifty breaks and trades below its 34 HMA (11000 approx), it will find its next support around its 10 HMA( 10970 approx)





 
The Outlook For 18th July 2018
Bank Nifty Daily Chart Levels
In today’s trade, Bank Nifty share price closed above its 5 DEMA high (27008 approx). The index is likely to find its nearest support around its 5 DMA (26890 approx). However Bank Nifty will face its first resistance around its upper Bollinger band (27090  approx). The crucial support for Bank Nifty still remains around its 20 DMA ( 26606 approx)



Bank Nifty Hourly Chart Levels
In the hourly trading time frame, Bank Nifty share price closed around 27008 approx. The index is likely to find a strong support around 34 HMA ( 26900 approx). Bank Nifty will face its next zone of resistance around its hourly upper Bollinger band (27045 approx).





Large Cap, Mid Cap & Small Cap Gainers






GLOBAL PERSPECTIVE


The Dollar Index and US Treasury yield is trading flat indicating no major uncertainties in the global market in the current moment. 



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

 
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