Friday, 19 December 2014

Todays market : Metal & IT stocks find favour today

NSENIFTY closed up  65 point at 8,225.200.  Volume was 100% below average (consolidating) and Bollinger Bands were 49% wider than normal. 

Midcaps and Smallcaps too closed in the green today. While the BSE Mid Cap index was up by 0.36% the BSE Small Cap index closed higher by 0.57%. Metal and IT stocks were the biggest gainers today. 




As regards global markets, Asian pack too closed strong today. The rupee was trading at levels of Rs 63.43 to the dollar at the time of writing. 




  • Open             High          Low                Close        Volume___
  • 8,230.450    8,263.450    8,208.600     8,225.200            0

  • Technical Outlook 
  • Short Term:          Neutral
  • Intermediate Term:   Bearish
  • Long Term:           Bullish
  • Moving Averages: 10-period     50-period     200-period
  • Close:                    8,235.31       8,235.83       7,549.08
  • Volatility:                   19                15                15
  • Volume:               143,149,296    145,982,752    155,048,512


NSENIFTY gapped up today (bullish) on light volume.  Possibility of a Common Gap which usually coincides with a lack of interest in the security.  Common Gaps are fairly irrelevent for forecasting purposes.  Four types of price gaps exist - Common, Breakaway, Runaway, and Exhaustion.  Gaps acts as support/resistance.
   NSENIFTY is currently 9.0% 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 NSENIFTY at a relatively equal pace (neutral).  Our trend forecasting oscillators are currently bearish on NSENIFTY and have had this outlook for the last 6 periods.   



  BANKNIFTY closed up 152.301 at 18,478.900.  Volume was 100% below average (consolidating) and Bollinger Bands were 28% narrower than normal. 

  • Open               High              Low              Close         Volume___
  • 18,545.699     18,563.600      18,413.750     18,478.900           0

  • Technical Outlook 
  • Short Term:                Neutral
  • Intermediate Term:     Bearish
  • Long Term:                 Bullish
  • Moving Averages: 10-period     50-period     200-period
  • Close:                   18,284.29      17,370.29      15,081.17
  • Volatility:                    27               22               25
  • Volume:              44,625,952     33,452,892     32,207,202


BANKNIFTY gapped up today (bullish) on light volume.  Possibility of a Common Gap which usually coincides with a lack of interest in the security.  Common Gaps are fairly irrelevent for forecasting purposes.  Four types of price gaps exist - Common, Breakaway, Runaway, and Exhaustion.  Gaps acts as support/resistance.
   BANKNIFTY is currently 22.5% 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 3 periods.   



GOLDBEES closed down  -4.100 at 2,461.650.  Volume was 174% above average (trending) and Bollinger Bands were 16% narrower than normal. 

  • Open            High            Low           Close        Volume___
  • 2,463.900    2,468.500    2,451.600    2,461.650      64,945

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

  • Moving Averages: 10-period     50-period     200-period
  • Close:                  2,466.80       2,457.29       2,589.08
  • Volatility:                 14                17                14
  • Volume:                 26,700         28,996         26,135

   GOLDBEES is currently 4.9% below its 200-period moving average and is in an upward 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 bullish on GOLDBEES and have had this outlook for the last 6 periods.     


MCX closed up   7.100 at 844.350.  Volume was 40% below average (neutral) and Bollinger Bands were 25% narrower than normal.

Open     High      Low     Close     Volume___
846.900  857.800  840.000  844.350     365,850

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

Moving Averages: 10-period     50-period     200-period
Close:            850.60         836.04         697.94
Volatility:           37             35             56
Volume:          455,689        507,391      1,174,759

   Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary


   MCX is currently 21.0% 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 5 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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