Nifty Spot Pattern Analysis for 23 February 2015

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

Out of the 500 prior bars, this pattern was repeated 11 times. 

For this data the pattern has occurred   2.2 percent of the time.

On the 10 previous occurrences of this pattern: 

The next days close was greater than its open 4 time(s) or  40.0 percent.

The next days close was less than its open 6 time(s) or  60.0 percent.

The next days close was equal to its open 0 time(s) or   0.0 percent.


Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20).  The Stochastic Oscillator is 84.5738.  This is an overbought reading.  However, a signal is not generated until the Oscillator crosses below 80  The last signal was a  buy 6 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas.  The current value of the RSI is 60.18.  This is not a topping or bottoming area.    A buy or sell signal is generated when the RSI moves out of an overbought/oversold area.  The last signal was a sell 14 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas.  The current value of the CCI is 87.  This is not a topping or bottoming area.  The last signal was a sell 0 period(s) ago.

MACD


The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line.  The last signal was a buy  1 period(s) ago.

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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.