Friday, 21 November 2014

The Indian markets gathered steam and closed the day in the green





NSENIFTY closed up  75.449 at 8,477.350.  Volume was 1% below average (neutral) and Bollinger Bands were 40% wider than normal. 

  • Open           High             Low          Close      Volume___
  • 8,408.200    8,489.800    8,398.600    8,477.350  137,015,456

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

  • Moving Averages: 10-period     50-period     200-period
  • Close:                    8,395.62       8,101.28       7,320.38
  • Volatility:                    7               15               15
  • Volume:              128,588,144    136,771,488    155,455,600




   NSENIFTY is currently 15.8% 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 14 periods.   Our momentum oscillator is currently indicating that NSENIFTY is currently in an overbought condition. The security price has set a new 14-period high while our momentum oscillator has not.  This is a bearish divergence.  



BANKNIFTY closed up 411.250 at 18,056.301.  Volume was 115% above average (neutral) and Bollinger Bands were 34% wider than normal. 

  • Open             High           Low             Close       Volume___
  • 17,767.750   18,139.949   17,716.650   18,056.301  56,331,996

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

  • Moving Averages: 10-period     50-period     200-period
  • Close:         17,589.94      16,392.99      14,285.02
  • Volatility:           17             22             26
  • Volume:       28,421,122     25,389,384     30,724,784


BANKNIFTY 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.
   BANKNIFTY is currently 26.4% 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 BANKNIFTY (mildly bullish).  Our trend forecasting oscillators are currently bullish on BANKNIFTY and have had this outlook for the last 19 periods.   Our momentum oscillator is currently indicating that BANKNIFTY is currently in an overbought condition.  


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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