Thursday, 26 February 2015

Market Update: A weak day of trading...


The Indian markets languished in the red throughout the trading session today on the back of persistent selling pressure across index heavyweights. There was no respite in the final trading hour either and the indices closed well below the dotted line. The BSE-Sensex closed lower by about 261 points, while the NSE-Nifty ended lower by about 83 points. Losses were largely seen in banking, auto and pharma stocks. The BSE Mid Cap index and the BSE Small Cap index were not spared either and closed lower by around 1% each.

Asian stocks ended the day on a mixed note, while stocks in Europe were also trading mixed. The rupee was trading at Rs 61.77 to the dollar at the time of writing.


NSENIFTY closed down -83.400 at 8,683.850.  Volume was 43% above average (neutral) and Bollinger Bands were 28% narrower than normal. 


  • Open               High          Low            Close       Volume___
  • 8,779.000    8,786.050    8,669.450    8,683.850   224,185,488

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

  • Moving Averages: 10-period     50-period     200-period
  • Close:                  8,789.25       8,526.26       7,999.13
  • Volatility:                 13               19               17
  • Volume:             177,075,456    163,076,752    155,039,008

  

   NSENIFTY is currently 8.6% above 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 NSENIFTY at a relatively equal pace (neutral).  Our trend forecasting oscillators are currently bullish on NSENIFTY and have had this outlook for the last 27 periods.     




  • The Open is less than the previous bar's midpoint but greater than the previous Low



  • The High is less than the previous bar's midpoint but greater than the previous Low



  • The Low is less than the previous bar's Low but greater than the previous Low minus a 10-period Average True Range



  • The Close is less than the previous bar's Low but greater than the previous Low minus a 10-period Average True Range



  • Out of the 500 prior bars, this pattern was repeated 23 times. 
  • For this data the pattern has occured   4.6 percent of the time.
  • On the 22 previous occurrences of this pattern: 
  • The next days close was greater than its open 8 time(s) or  36.4 percent.
  • The next days close was less than its open 14 time(s) or  63.6 percent.
  • The next days close was equal to its open 0 time(s) or   0.0 percent.

 BANKNIFTY closed down -194.951 at 18,538.100.  Volume was 64% above average (neutral) and Bollinger Bands were 4% wider than normal. 

  • Open                 High                 Low               Close           Volume___
  • 18,781.400     18,795.100     18,489.600    18,538.100  76,878,912

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

  • Moving Averages: 10-period     50-period     200-period
  • Close:                  19,031.50      19,023.83      16,646.22
  • Volatility:                 15                27                25
  • Volume:             64,897,596     58,261,568     37,892,484


   BANKNIFTY is currently 11.4% above its 200-period moving average and is in an downward trend.  Volatility is extremely low when compared to the average volatility over the last 10 periods.  There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future.  Our volume indicators reflect moderate flows of volume out of BANKNIFTY (mildly bearish).  Our trend forecasting oscillators are currently bearish on BANKNIFTY and have had this outlook for the last 12 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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