Tuesday, 7 January 2014

Steel stocks closed weak today.

Analysis of  NSENIFTY  as of 07/01/2014

   NSENIFTY closed down -29.200 at 6,162.250.  Volume was 25% below average (neutral) and Bollinger Bands were 50% narrower than normal.

Open                High             Low            Close         Volume___
6,203.900    6,221.500    6,144.750    6,162.250     138,559,008

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

Moving Averages: 10-period     50-period     200-period
Close:                   6,254.38       6,190.90       5,913.95
Volatility:                      9             18             23
Volume:                 121,517,976    157,358,560    170,438,016


   NSENIFTY is currently 4.2% 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 20 periods. 


Analysis of BANKNIFTY as of 07/01/2014

   BANKNIFTY closed down -12.300 at 11,036.750.  Volume was 26% below average (neutral) and Bollinger Bands were 46% narrower than normal. 

Open                 High                  Low           Close              Volume___
11,097.800    11,154.100    10,892.150    11,036.750     30,270,290

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

Moving Averages: 10-period     50-period     200-period
Close:         11,277.36      11,210.75      11,144.84
Volatility:           14             33             39
Volume:       24,122,936     34,146,464     32,688,830

   BANKNIFTY is currently 1.0% 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 moderate flows of volume out of BANKNIFTY (mildly bearish).  Our trend forecasting oscillators are currently bearish on BANKNIFTY and have had this outlook for the last 0 periods.     


    

About

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.

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