Profit Booking Seen In Nifty, As US-China Trade War Escalates


US and China over increasing tariffs looks all set to snowball into a full-fledged financial crisis. China and US being two of the world’s largest economies, is likely to have adverse effects over the global business sentiment as a whole. A tariff war is a subtle way of devaluing the currency. Thus, it is likely that situation could soon spin out of control if the authorities do to take pre-emptive measures.  India’s benchmark Nifty opened 23 points below its previous close today. The Index slipped 70 points from its intraday high of 10777 and made a low of 10702. 

Stocks Under The Scanner
In the NBFC space, Bajaj Finance share price was up 1.17 % while Vedanta shares fell3.51% and IOC share price dropped 3.05%.

The Outlook for 20th June 2018
Daily Chart Levels
In the daily timeframe, Nifty closed above it 20 DMA   (10710 approx). The index will face immediate resistance around its next support around its 15 DMA (10740 approx). If Nifty breaks and trades below its 34 DMA ( 10695 approx) it will find support around its 50 DMA  ( 10650 approx).


Hourly Chart Levels
In the hourly time frame, the Nifty share price has closed below its 5 HMA  (10710 approx). The index is likely to face its next resistance around 10 HMA (10745 approx). Nifty will find its next support around its 200 HMA (10686 approx). 


The Outlook For 20th June 2018
Bank Nifty Daily Chart Levels
In the daily trading timeframe, Bank Nifty closed above its 10 DMA ( 26265 approx ). The Banking index is likely to face its next resistance around its 20 DMA (26400 approx). In tomorrows trade, Bank Nifty will find its first nearest support around its 50 DMA high ( 25908 approx). However, if the index breaks and trades below its lower Bollinger band ( 25881 approx), it will find its next support around its 100 DMA (25571 approx). 

Bank Nifty Hourly Chart Levels
In the hourly trading time frame, Bank Nifty closed marginally above its lower Bollinger band ( 26266 approx ). The index is likely to face its next resistance around the 10 HMA high( 264327 approx).  
" data-username="AMPLIFYKOLKATA" data-message="asksdfds">
The recent spat between the US and China over increasing tariffs looks all set to snowball into a full-fledged financial crisis. China and US being two of the world’s largest economies, is likely to have adverse effects over the global business sentiment as a whole. A tariff war is a subtle way of devaluing the currency. Thus, it is likely that situation could soon spin out of control if the authorities do to take pre-emptive measures.  India’s benchmark Nifty opened 23 points below its previous close today. The Index slipped 70 points from its intraday high of 10777 and made a low of 10702. 

Stocks Under The Scanner
In the NBFC space, Bajaj Finance share price was up 1.17 % while Vedanta shares fell3.51% and IOC share price dropped 3.05%.

The Outlook for 20th June 2018
Daily Chart Levels
In the daily timeframe, Nifty closed above it 20 DMA   (10710 approx). The index will face immediate resistance around its next support around its 15 DMA (10740 approx). If Nifty breaks and trades below its 34 DMA ( 10695 approx) it will find support around its 50 DMA  ( 10650 approx).


Hourly Chart Levels
In the hourly time frame, the Nifty share price has closed below its 5 HMA  (10710 approx). The index is likely to face its next resistance around 10 HMA (10745 approx). Nifty will find its next support around its 200 HMA (10686 approx). 


The Outlook For 20th June 2018
Bank Nifty Daily Chart Levels
In the daily trading timeframe, Bank Nifty closed above its 10 DMA ( 26265 approx ). The Banking index is likely to face its next resistance around its 20 DMA (26400 approx). In tomorrows trade, Bank Nifty will find its first nearest support around its 50 DMA high ( 25908 approx). However, if the index breaks and trades below its lower Bollinger band ( 25881 approx), it will find its next support around its 100 DMA (25571 approx). 

Bank Nifty Hourly Chart Levels
In the hourly trading time frame, Bank Nifty closed marginally above its lower Bollinger band ( 26266 approx ). The index is likely to face its next resistance around the 10 HMA high( 264327 approx).  
Recent Articles
Sell Off In Ultratech Cement10th September 2018