Indian markets continue to trade firm

Analysis of  NSENIFTY and BANKNIFTY


NSENIFTY closed up  18 PNT at 7,954.350.  Volume was 19% above average (neutral) and Bollinger Bands were 2% wider than normal. 

Open             High             Low          Close           Volume___
7,942.250   7,967.80    7,939.20    7,954.350     189,698,80

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

Moving Averages:    10-period            50-period          200-period
Close:                        7,894.45             7,694.30            6,817.13
Volatility:                          7                        15                     16
Volume:                 130,225,880        136,202,752       160,581,552

  
   NSENIFTY is currently 16.7% above its 200-period moving average and is in an upward trend.  Volatility is relatively normal as compared to the average volatility over the last 10 periods.  Our volume indicators reflect moderate flows of volume into NSENIFTY (mildly bullish).  Our trend forecasting oscillators are currently bullish on NSENIFTY and have had this outlook for the last 11 periods.     


BANKNIFTY closed up  22 PNT  at 15,740.400.  Volume was 17% below average (neutral) and Bollinger Bands were 7% narrower than normal. 

Open                  High                   Low                    Close             Volume___
15,758.05        15,794.60        15,688.15         15,740.400      27,074,422

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

Moving Averages:     10-period         50-period          200-period
Close:                       15,576.83         15,239.12          12,904.50
Volatility:                          17                    22                    28
Volume:                   26,053,062        27,065,040           32,440,098


   BANKNIFTY is currently 22.0% above its 200-period moving average and is in an upward trend.  Volatility is relatively normal as compared to the average volatility over the last 10 periods.  Our volume indicators reflect volume flowing into and out of BANKNIFTY at a relatively equal pace (neutral).  Our trend forecasting oscillators are currently bullish on BANKNIFTY and have had this outlook for the last 6 periods.     

Indian markets continue to trade firm Indian markets continue to trade firm Reviewed by Money99 on 00:35:00 Rating: 5

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