Friday, 10 October 2014

Weak global cues pull markets down

 NSENIFTY closed down -100.600 at 7,859.950.  Volume was 1% below average (neutral) and Bollinger Bands were 18% narrower than normal. 

The Indian equity markets continued to extend losses in the post noon trade with no signs of recovery, and closed the day on a poor note. Weak global cues on account of concerns over European growth dragged the domestic markets lower. 


   NSENIFTY is currently 11.2% above its 200-period moving average and is in an downward trend.  Volatility is high as compared to the average volatility over the last 10 periods.  Our volume indicators reflect moderate flows of volume out of NSENIFTY (mildly bearish).  Our trend forecasting oscillators are currently bearish on NSENIFTY and have had this outlook for the last 6 periods.     

Open            High              Low         Close      Volume___
7,911.000     7,924.050    7,848.450    7,859.950   142,926,896




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

  • Moving Averages: 10-period     50-period     200-period
  • Close:                    7,926.79       7,913.00       7,069.69
  • Volatility:                    16                15                15
  • Volume:              146,415,968    130,192,392    156,198,528



Option Gain 




Asian indices closed the day in red today, while European indices opened weak. The rupee was trading at Rs 61.25 to the dollar at the time of writing.



Sector performance 





BANKNIFTY closed down -287.400 at 15,453.800.  Volume was 12% below average (neutral) and Bollinger Bands were 20% wider than normal. 

Open            High                 Low             Close           Volume___
15,603.450     15,628.750     15,439.350    15,453.800     24,179,824




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

  • Moving Averages: 10-period     50-period     200-period
  • Close:                15,454.79      15,606.18      13,537.82
  • Volatility:                 30               23                 26
  • Volume:             26,683,824     24,475,158     30,695,128

   BANKNIFTY is currently 14.2% above its 200-period moving average and is in an downward trend.  Volatility is extremely high when compared to the average volatility over the last 10 periods.  There is a good possibility that volatility will decrease and prices will stabilize in the near term.  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 6 periods.    


GOLDBEES closed down  -4.150 at 2,486.250.  Volume was 51% below average (consolidating) and Bollinger Bands were 61% narrower than normal. 

Open     High      Low     Close     Volume___
2,480.1502,495.0002,480.1502,486.250       9,905


  • Technical Outlook 
  • Short Term:                Neutral
  • Intermediate Term:     Bearish
  • Long Term:                 Bearish

  • Moving Averages: 10-period     50-period     200-period
  • Close:                  2,478.70       2,541.24       2,662.05
  • Volatility:                   9                 10              12
  • Volume:                   15,989         17,112         25,072


   GOLDBEES is currently 6.6% below its 200-period moving average and is in an downward trend.  Volatility is extremely high when compared to the average volatility over the last 10 periods.  There is a good possibility that volatility will decrease and prices will stabilize in the near term.  Our volume indicators reflect moderate flows of volume out of GOLDBEES (mildly bearish).  Our trend forecasting oscillators are currently bearish on GOLDBEES and have had this outlook for the last 31 periods.     




  MCX closed up   1.350 at 770.200.  Volume was 36% below average (neutral) and Bollinger Bands were 30% narrower than normal. 

Open      High        Low       Close     Volume___
765.900  790.800  752.000  770.200     835,031


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

  • Moving Averages: 10-period     50-period     200-period
  • Close:                    785.42         814.87         619.62
  • Volatility:                   40              44               67
  • Volume:                 447,568        704,132      1,601,348



   MCX is currently 24.3% above its 200-period moving average and is in an downward 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 MCX at a relatively equal pace (neutral).  Our trend forecasting oscillators are currently bearish on MCX and have had this outlook for the last 9 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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