Indian Markets snap five day losing streak

Analysis of NSENIFTY  as of 08/01/2014

   NSENIFTY closed up  12.350 at 6,174.600.  Volume was 20% below average (neutral) and Bollinger Bands were 51% narrower than normal.

Open                 High             Low              Close        Volume___
6,178.050    6,192.100    6,160.350    6,174.600     146,912,640

Technical Outlook 
Short Term:          Oversold
Intermediate Term:   Bullish
Long Term:           Bullish

Moving Averages: 10-period     50-period     200-period
Close:                       6,245.00       6,191.49       5,915.46
Volatility:                        9             18             23
Volume:               125,444,952    157,406,192    170,411,808

   NSENIFTY is currently 4.4% above its 200-period moving average and is in an upward trend.  Volatility is extremely low when compared to the average volatility over the last 10 periods.  There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.  Our volume indicators reflect moderate flows of volume out of NSENIFTY (mildly bearish).  Our trend forecasting oscillators are currently bullish on NSENIFTY and have had this outlook for the last 21 periods. 

Analysis of BANKNIFTY  as of 08/01/2014

   BANKNIFTY closed up  16.950 at 11,053.700.  Volume was 18% below average (neutral) and Bollinger Bands were 51% narrower than normal. 

Open                   High               Low              Close            Volume___

11,071.750      11,122.750     10,988.800     11,053.700  33,422,332

Technical Outlook 

Short Term:          Oversold

Intermediate Term:   Bearish

Long Term:           Bearish

Moving Averages: 10-period     50-period     200-period

Close:                       11,249.67      11,213.90      11,141.03

Volatility:                       14             33             39

Volume:                    25,107,216     34,207,864     32,732,114

   BANKNIFTY is currently 0.8% below its 200-period moving average and is in an downward trend.  Volatility is extremely low when compared to the average volatility over the last 10 periods.  There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.  Our volume indicators reflect volume flowing into and out of BANKNIFTY at a relatively equal pace (neutral).  Our trend forecasting oscillators are currently bearish on BANKNIFTY and have had this outlook for the last 1 periods.     

    

About Money99

Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.