Wednesday, 28 January 2015

The Indian markets had a rather volatile trading session today

NSENIFTY closed up   4 point at 8,914.300.  Volume was 33% above average (neutral) and Bollinger Bands were 102% wider than normal. 

Open              High             Low           Close         Volume___
8,902.750     8,985.050     8,874.050     8,914.300    190,805,920



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

  • Moving Averages: 10-period     50-period     200-period
  • Close:                    8,668.31       8,406.63       7,798.93
  • Volatility:                   15                18             16
  • Volume:               180,469,120    144,710,336    150,643,264


   NSENIFTY is currently 14.3% above 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 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 7 periods.   Our momentum oscillator is currently indicating that NSENIFTY is currently in an overbought condition.  








Asian stocks ended the day on a mixed note, while stocks in Europe were trading weak. The rupee was trading at Rs 61.35 to the dollar at the time of writing.



Auto stocks closed mixed today. While Ashok Leyland and TVS Motors found favour, Tata Motors and Bajaj Auto closed into the red. In FY13, the share of diesel volumes as a part of overall volumes in the domestic auto market had soared because of the widened price differential between petrol and diesel. As reported in a leading financial daily, at the time, petrol prices were higher than diesel by around 3 times. But since then the environment has changed with petrol volumes now accounting for a larger chunk. A hike in diesel prices by the government in the subsequent years has led to the gap between the two fuels narrowing down to around Rs 10-12. As a result, the time to recover the premium paid to buy diesel vehicles has increased to more than three and half years from a little over two years in 2012 for the average buyer. Indeed, according to Maruti Suzuki, share of diesel models in total industry passenger vehicle (PV) sales has come down from 54% in the previous year to 46% at present. Given that now both petrol and diesel prices will be determined by market forces rather than the government, petrol variants could end up having the upper edge since the cost of ownership of a diesel vehicle is higher and also because the latter is more polluting. 

Textile stocks ended the day on a mixed note with Bombay DyeingWelspun India and Arvind leading the pack of gainers, while Eastern Silk and Kitex Garments closed in the red. Kitex Garments announced results for the third quarter ended December 2014. Sales increased by 22.8% YoY during 3QFY15. However, according to the management, growth would have been higher had the US clients not asked to delay consignments in the month of December. Operating profits increased 106.7% YoY during the quarter on the back of strong revenue growth. This then led to the impressive 104.3% YoY growth in net profits. This came about despite the rise in interest and depreciation expenses by 156.5% YoY and 110.5% YoY respectively. Interest expenses increased as packing credit interest subvention that the company used to get expired in October, while depreciation expenses increased as the company is in expansion mode. Having said that, other income too, witnessed a triple digit growth of 157.6% YoY because of higher forex gains.



BANKNIFTY closed down -63.500 at 20,491.750.  Volume was 87% above average (neutral) and Bollinger Bands were 73% wider than normal. 


  • Open              High              Low             Close         Volume___
  • 20,507.500     20,907.551     20,435.000    20,491.750  67,840,744

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

  • Moving Averages: 10-period     50-period     200-period
  • Close:                    19,711.63      18,656.82      16,011.57
  • Volatility:                    23                24                25
  • Volume:               59,173,624     44,647,104     33,796,444


   BANKNIFTY is currently 28.0% above 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 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 7 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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