The Indian
markets ended the day on a firm note
as buying activity picked up during the final hour of trade. The BSE-Sensex closed higher by
about 270 points or 1%, while the NSE-Niftyclosed higher by about 85 points or 1%. Gains were seen in
stocks across the board, with power and engineering stocks leading the pack of gainers, while FMCG stocks were out of
favour today. Midcaps and smallcaps closed the day
on a firm note, with their respective indices up by about 1.1% and 1.3%
respectively.
NSENIFTY closed up 84.149 at 8,711.550. Volume was 8% above average (neutral) and Bollinger Bands were 5% narrower than normal.
- Open High Low Close Volume___
- 8,676.9508,732.5508,599.2508,711.550 163,681,344
- Technical Outlook
- Short Term: Neutral
- Intermediate Term: Bullish
- Long Term: Bullish
- Moving Averages: 10-period 50-period 200-period
- Close: 8,689.01 8,458.97 7,907.74
- Volatility: 16 19 17
- Volume: 194,149,840 153,990,288 153,025,504
NSENIFTY is currently 10.2% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into NSENIFTY (mildly bullish). Our trend forecasting oscillators are currently bullish on NSENIFTY and have had this outlook for the last 18 periods.
Asian stocks ended the day on a firm note; stocks
in Europe were trading positive at the time of writing. The rupee was trading
at Rs 62.43 to the dollar.
BANKNIFTY closed up 187.799 at 19,128.600. Volume was 65% above average (neutral) and Bollinger Bands were 39% wider than normal.
- Open High Low Close Volume___
- 19,073.44919,176.80118,739.85019,128.600 71,078,576
- Technical Outlook
- Short Term: Neutral
- Intermediate Term: Bearish
- Long Term: Bullish
- Moving Averages: 10-period 50-period 200-period
- Close: 19,133.10 18,934.30 16,373.18
- Volatility: 31 27 25
- Volume: 82,729,456 53,673,484 36,480,272
BANKNIFTY is currently 16.8% 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 3 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.
