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.
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