Thursday, 15 January 2015

Today's Market : Markets intoxicated by a rate cut


  NSENIFTY closed up 216.601 at 8,494.150.  Volume was 68% above average (neutral) and Bollinger Bands were 14% narrower than normal. 

                After trading in the positive territory during post noon trading session buoyed by an unexpected rate cut by the RBI, the Indian equity markets registered further gains and closed the day in the green. While the BSE Sensex today closed higher by 729 points, the NSE-Nifty closed higher by 217 points. Midcaps and Smallcaps too closed in the green today. While the BSE Mid Cap index closed higher by 1.21% the BSE Small Cap index closed higher by 1.01%. Realty and banking stocks were the biggest gainers today.

  • Open            High               Low           Close       Volume___
  • 8,424.500    8,527.100    8,380.550    8,494.150   232,138,800

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

  • Moving Averages: 10-period     50-period     200-period
  • Close:                 8,291.65       8,345.15       7,712.44
  • Volatility:                 27               17               16
  • Volume:              146,881,408    138,437,152    150,853,072



NSENIFTY 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.
   NSENIFTY is currently 10.1% 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 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 23 periods.     


BANKNIFTY closed up 631.850 at 19,235.650.  Volume was 164% above average (trending) and Bollinger Bands were 24% narrower than normal. 

  • Open              High             Low          Close        Volume___
  • 19,340.449    19,410.400    19,061.350   19,235.650   86,507,936

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

  •  Moving Averages: 10-period     50-period     200-period
  • Close:         18,749.13      18,253.36      15,710.35
  • Volatility:           33             23             25
  • Volume:       49,529,796     39,399,456     32,864,066



BANKNIFTY gapped up today (bullish) on heavy volume.  Possibility of a Breakaway Gap which usually signifies the beginning of a major market move.  Four types of price gaps exist - Common, Breakaway, Runaway, and Exhaustion.  Gaps acts as support/resistance.
   BANKNIFTY is currently 22.4% 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 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 4 periods.    The security price has set a new 14-period high while our momentum oscillator has not.  This is a bearish divergence. 



 GOLDBEES closed down  -7.050 at 2,478.650.  Volume was 32% below average (neutral) and Bollinger Bands were 43% narrower than normal. 

  • Open     High      Low     Close     Volume___
  • 2,478.3002,490.0002,461.0502,478.650      15,694

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

  • Moving Averages: 10-period     50-period     200-period
  • Close:          2,478.58       2,448.52       2,558.11
  • Volatility:           15             15             15
  • Volume:           16,263         23,896         25,057



   GOLDBEES is currently 3.1% below 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 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 2 periods.     



MCX closed up   1.100 at 851.750.  Volume was 31% below average (neutral) and Bollinger Bands were 20% narrower than normal. 

  • Open     High      Low     Close     Volume___
  • 855.550  871.700  844.000  851.750     349,618

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

  • Moving Averages: 10-period     50-period     200-period
  • Close:                   857.73         859.38         726.21
  • Volatility:                   29               39               54
  • Volume:                 537,106        514,659      1,078,986




   MCX is currently 17.3% 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 into MCX (mildly bullish).  Our trend forecasting oscillators are currently bearish on MCX and have had this outlook for the last 22 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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