Todays Market : Metal stocks face the heat

NSENIFTY closed down -25.250 at 8,102.100.  Volume was 20% above average (neutral) and Bollinger Bands were 18% narrower than normal. 

• Open              High             Low           Close         Volume___
• 8,118.650      8,151.200      8,065.450     8,102.100    164,075,424

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

• Moving Averages: 10-period     50-period     200-period
• Close:                   8,243.94       8,319.20       7,658.27
• Volatility:                   23               16                    16
• Volume:               115,523,200    136,332,704    152,196,704

   NSENIFTY is currently 5.8% 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 moderate flows of volume out of NSENIFTY (mildly bearish).  Our trend forecasting oscillators are currently bearish on NSENIFTY and have had this outlook for the last 17 periods.   



BANKNIFTY closed down -126.500 at 18,304.250.  Volume was 87% above average (neutral) and Bollinger Bands were 20% narrower than normal. 

• Open                High                Low            Close         Volume___
• 18,382.551      18,482.051     18,211.500     18,304.250    58,241,388

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

• Moving Averages: 10-period     50-period     200-period
• Close:                   18,656.57      18,002.39      15,509.38
• Volatility:                      23             21             24
• Volume:                 38,016,244     35,753,172     32,608,056

   BANKNIFTY is currently 18.0% 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 0 periods.    


GOLDBEES closed up   4.300 at 2,502.200.  Volume was 0% above average (neutral) and Bollinger Bands were 43% narrower than normal. 

• Open            High             Low           Close       Volume___
• 2,492.050      2,506.900   2,492.050    2,502.200      23,091

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

• Moving Averages: 10-period     50-period     200-period
• Close:                   2,466.94       2,448.87       2,568.29
• Volatility:                    14               15               14
• Volume:                  13,584         25,332         25,428

   GOLDBEES is currently 2.6% below its 200-period moving average and is in an upward trend.  Volatility is low 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 17 periods.     


MCX closed up   1.800 at 855.000.  Volume was 5% below average (neutral) and Bollinger Bands were 12% narrower than normal. 

• Open     High      Low     Close     Volume___
• 855.050  877.000  840.100  855.000     544,622

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

• Moving Averages: 10-period     50-period     200-period
• Close:            856.28         855.41         716.18
• Volatility:           55             39             56
• Volume:          595,000        520,792      1,107,851

   MCX is currently 19.4% 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 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 16 periods.     

About Money99

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.