Wednesday, 10 September 2014

Weak global cues mar Indian indices

                       Weak global cues mar Indian indices


                                  BSE Sensex lost steam and closed down sharply by 208 points, the NSE-Nifty too was seen down by 59 points. Marred by global cues on account of worries over likelihood of Fed rate hike, the markets plunged across the board.

The Asian indices closed the day on a weak note. The European indices however have opened on a mixed note. The rupee was trading at Rs 60.93 to the dollar at the time of writing. Nifty Volume was 100% below average (consolidating) and Bollinger Bands were 4% wider than normal. 

Open             High              Low               Close    
8,135.550     8,135.750      8,082.100     8,094.100      

     


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

Moving Averages: 10-period        50-period         200-period
Close:                           8,071.95         7,785.78            6,896.96
Volatility:                            10                  15                     16
Volume:                     122,730,912     134,980,000     158,861,232

   

   NSENIFTY is currently 17.4% 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 into NSENIFTY (mildly bullish).  Our trend forecasting oscillators are currently bullish on NSENIFTY and have had this outlook for the last 19 periods. 


BANKNIFTY closed down  -5  at 16,151.750.  Volume was 35% below average (neutral) and Bollinger Bands were 4% wider than normal. 

Open                High                Low               Close          Volume___
16,173.500       16,190.500      16,053.900      16,151.750      20,602,012



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

Moving Averages: 10-period     50-period     200-period
Close:                       16,024.26      15,395.78      13,113.56
Volatility:                     14                       22               27
Volume:                    20,618,466     25,896,352     31,587,052


   BANKNIFTY is currently 23.2% 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 into BANKNIFTY (mildly bullish).  Our trend forecasting oscillators are currently bullish on BANKNIFTY and have had this outlook for the last 14 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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