Wednesday, 19 November 2014

The Indian equity markets lost further ground and closed the day in the red ( Metal stocks sink )

NSENIFTY closed down -43.601 at 8,382.300.  Volume was 9% below average (neutral) and Bollinger Bands were 65% wider than normal.


After trading in the negative territory during post noon trading session, the Indian equity markets lost further ground and closed the day in the red. While the BSE Sensex today closed lower by 130 points, the NSE-Nifty closed lower by 44 points. Even Midcaps and Smallcaps closed weak today. Both BSE Mid Cap index and BSE Small Cap index closed lower by 0.63% and 0.65% respectively. Metal stocks were the biggest losers today.

Sector Performance

As regards global markets, Asian pack closed mixed today. The rupee was trading at Rs 612.05 to the dollar at the time of writing.


  • Open             High          Low          Close         Volume___
  • 8,440.650    8,455.650    8,360.500    8,382.300 125,399,136

Nifty Future Chart
  • Technical Outlook
  • Short Term:              Overbought
  • Intermediate Term:     Bullish
  • Long Term:                Bullish

  • Moving Averages: 10-period     50-period     200-period
  • Close:                    8,375.22       8,087.65       7,299.25
  • Volatility:                   6                15                15
  • Volume:              134,113,864    137,288,144    155,552,752


   NSENIFTY is currently 14.8% 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 very strong flows of volume into NSENIFTY (bullish). Our trend forecasting oscillators are currently bullish on NSENIFTY and have had this outlook for the last 12 periods.



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BANKNIFTY closed down -116.900 at 17,585.650.  Volume was 23% below average (neutral) and Bollinger Bands were 40% wider than normal. 

  • Open              High             Low           Close         Volume___
  • 17,739.199    17,745.699    17,557.100    17,585.650  19,839,984
Banknifty Chart
  • Technical Outlook 
  • Short Term:              Overbought
  • Intermediate Term:    Bullish
  • Long Term:                Bullish

  • Moving Averages: 10-period     50-period     200-period
  • Close:                   17,489.80      16,323.77      14,218.41
  • Volatility:                   13               22                26
  • Volume:               24,424,364     24,641,012     30,472,742


   BANKNIFTY is currently 23.7% 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 very strong flows of volume into BANKNIFTY (bullish). Our trend forecasting oscillators are currently bullish on BANKNIFTY and have had this outlook for the last 17 periods.   Our momentum oscillator is currently indicating that BANKNIFTY is currently in an overbought condition.  

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GOLDBEES closed up   8.400 at 2,449.150.  Volume was 2% above average (neutral) and Bollinger Bands were 83% wider than normal. 

  • Open             High           Low            Close       Volume___
  • 2,430.750     2,452.000     2,430.750   2,449.150      21,552

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

  • Moving Averages: 10-period     50-period     200-period
  • Close:          2,408.92       2,479.27       2,626.51
  • Volatility:           16             14             14
  • Volume:           33,188         24,889         25,626


   GOLDBEES is currently 6.8% below 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 volume flowing into and out of GOLDBEES at a relatively equal pace (neutral).  Our trend forecasting oscillators are currently bearish on GOLDBEES and have had this outlook for the last 10 periods.    Our momentum oscillator has set a new 14-period high while the security price has not.  This is a bullish divergence. 

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MCX closed down  -7.700 at 858.000.  Volume was 77% below average (consolidating) and Bollinger Bands were 5% narrower than normal. 

  • Open     High      Low     Close     Volume___
  • 863.200  874.450  846.650  858.000     248,654

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

  • Moving Averages: 10-period     50-period     200-period
  • Close:                    858.61         815.28         658.15
  • Volatility:                  40               36               57
  • Volume:                430,532        475,434      1,282,238


   MCX is currently 30.4% 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 very strong flows of volume into MCX (bullish). Our trend forecasting oscillators are currently bullish on MCX and have had this outlook for the last 13 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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