Monday, 8 September 2014

Nifty hit another record


Nifty hit another record

NSENIFTY closed up  87 point at 8,173  Volume was 25% below average (neutral) and Bollinger Bands were 27% wider than normal.

Open               High              Low                Close              Volume___

8,132.950    8,180.200     8,126.150      8,173.900      120,694,392



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

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

Close:                       8,028.35               7,760.88            6,877.68
Volatility:                        8                             15                  16
Volume:                 138,386,384      138,852,192          159,965,056


NSENIFTY gapped up today (bullish) on normal volume.  Possibility of a Runaway Gap which usually signifies a continuation of the trend.  Four types of price gaps exist - Common, Breakaway, Runaway, and Exhaustion.  Gaps acts as support/resistance.
                   NSENIFTY is currently 18.8% 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 into NSENIFTY (mildly bullish).  Our trend forecasting oscillators are currently bullish on NSENIFTY and have had this outlook for the last 17 periods.   Our momentum oscillator is currently indicating that NSENIFTY is currently in an overbought condition.  


BANKNIFTY closed up 224.200 at 16,206.700.  Volume was 36% below average (neutral) and Bollinger Bands were 22% wider than normal.

Open                High                Low                     Close           Volume

16,084.200     16,222.550     16,049.250      16,206.700     20,521,106



Technical Outlook 

Short Term:                 Overbought
Intermediate Term:       Bullish
Long Term:                  Bullish

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

Close:                         15,922.72                15,350.46              13,063.67
Volatility:                           15                          22                            28
Volume:                     21,164,048               26,284,060             31,757,198


   BANKNIFTY is currently 24.1% above its 200-period moving average and is in an upward trend.  Volatility is low as compared to the average volatility over the last 10 periods.  Our volume indicators reflect moderate flows of volume into BANKNIFTY (mildly bullish).  Our trend forecasting oscillators are currently bullish on BANKNIFTY and have had this outlook for the last 12 periods.    The security price has set a new 14-period high while our momentum oscillator has not.  This is a bearish divergence.

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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