Strong Weekly Closing In Nifty, Despite Global Uncertainties


Nifty ended the week on a strong note despite spillover effects from global currency uncertainties. The benchmark index opened 50 points gap up at 11436 this morning and sustained above 5 DEMA high (11460 approx) throughout the day. Nifty closed convincingly above its pivotal buy breakout area of 11460 approx. Today’s closing at 11470 is a significant sign that buyers are in control of the market. Major buying was also witnessed in the 11500 strike call options which generated 41% returns intraday. The nearest target for Nifty is around its upper Bollinger band (11560 approx). 

Stocks Under The Scanner
In today’s trade Grasim shares rose 4.33%, while Yes Bank shares rose 4.31%. In the Oil and Gas sector, GAIL shares dropped 1.37% in the course of the day’s trade.



The Outlook for 20th August 2018
Nifty Daily Chart Levels
In today’s trading, Nifty sustained above its 5 DEMA high (11460 approx) throughout the day. The index closed convincingly above its buy breakout area of 11460 and is likely to find its next target around its upper Bollinger band (11560 approx). Nifty is likely to find strong support around its 10 DMA(11400 approx).



 
Nifty Hourly Chart Levels
In the hourly trading session, the Nifty share price has closed around its 5 HMA (11470 approx). The index is likely to find strong support around its 50 HMA (11420 approx). The nearest target for Nifty is around its hourly upper Bollinger band (11495 approx).





Tomorrow’s Stock Pick

WIPRO
Wipro is an Indian Information Technology Services corporation headquartered in Bengaluru, India.

Why WIPRO 
Wipro is our star pick for Monday's it has formed a symmetrical triangle in the daily chart. The stock price is likely to see a buy breakout above the upper Bollinger band (287 approx). The upside target for buyers is around its weekly upper Bollinger band (300 approx). Traders may go short on Wipro if it breaks and trades below its 100 DMA (275 approx). The downside target for Wipro is around the weekly lower Bollinger band (255 approx).



Large Cap & Mid Cap Gainers



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India’s benchmark Nifty ended the week on a strong note despite spillover effects from global currency uncertainties. The benchmark index opened 50 points gap up at 11436 this morning and sustained above 5 DEMA high (11460 approx) throughout the day. Nifty closed convincingly above its pivotal buy breakout area of 11460 approx. Today’s closing at 11470 is a significant sign that buyers are in control of the market. Major buying was also witnessed in the 11500 strike call options which generated 41% returns intraday. The nearest target for Nifty is around its upper Bollinger band (11560 approx). 

Stocks Under The Scanner
In today’s trade Grasim shares rose 4.33%, while Yes Bank shares rose 4.31%. In the Oil and Gas sector, GAIL shares dropped 1.37% in the course of the day’s trade.



The Outlook for 20th August 2018
Nifty Daily Chart Levels
In today’s trading, Nifty sustained above its 5 DEMA high (11460 approx) throughout the day. The index closed convincingly above its buy breakout area of 11460 and is likely to find its next target around its upper Bollinger band (11560 approx). Nifty is likely to find strong support around its 10 DMA(11400 approx).



 
Nifty Hourly Chart Levels
In the hourly trading session, the Nifty share price has closed around its 5 HMA (11470 approx). The index is likely to find strong support around its 50 HMA (11420 approx). The nearest target for Nifty is around its hourly upper Bollinger band (11495 approx).





Tomorrow’s Stock Pick

WIPRO
Wipro is an Indian Information Technology Services corporation headquartered in Bengaluru, India.

Why WIPRO 
Wipro is our star pick for Monday's it has formed a symmetrical triangle in the daily chart. The stock price is likely to see a buy breakout above the upper Bollinger band (287 approx). The upside target for buyers is around its weekly upper Bollinger band (300 approx). Traders may go short on Wipro if it breaks and trades below its 100 DMA (275 approx). The downside target for Wipro is around the weekly lower Bollinger band (255 approx).



Large Cap & Mid Cap Gainers



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