Monday, 2 March 2015

Today's Market : Banks, cap goods drive markets higher


Today's volatile session came to an end with the BSE-Sensex gaining about 98 points and NSE-Nifty gaining about 55 points. S&P BSE Midcap and S&P BSE Smallcap

 indices garnered gains of 1.3% and 0.9%, respectively. Indian Rupee is trading at 61.95, up 0.2% while crude oil is trading higher by Rs 10 at Rs 3,073 per barrel. Gold and Silver gained positive momentum with gains of about 0.8% each.

Investor sentiment towards European market has gained traction as better than expected economic numbers impressed investors. These economic numbers includes unemployment and inflation numbers that directly affects the Eurozone's economy. The DAX and FTSE have gained about 0.3% each. 


NSENIFTY closed up 112.150 at 8,956.750.  Volume was 43% above average (neutral) and Bollinger Bands were 27% narrower than normal. 


  • Open              High             Low           Close         Volume___
  • 8,953.850    8,972.350    8,885.450   8,956.750   224,772,592
  • Technical Outlook 
  • Short Term:               Neutral
  • Intermediate Term:    Bullish
  • Long Term:               Bullish
  • Moving Averages: 10-period     50-period     200-period
  • Close:                   8,817.68       8,556.54       8,021.06
  • Volatility:                 16                19               17
  • Volume:               186,026,432    166,027,168    156,482,592

  
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 11.7% above its 200-period moving average and is in an upward trend.  Volatility is   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 29 periods.    The security price has set a new 14-period high while our momentum oscillator has not.  This is a bearish divergence.  


BANKNIFTY closed up 933.549 at 20,008.100.  Volume was 61% above average (neutral) and Bollinger Bands were 18% narrower than normal. 


  • Open     High      Low     Close     Volume___
  • 19,954.50020,065.50019,750.85020,008.100  76,974,160

  • Technical Outlook 
  • Short Term:              Neutral
  • Intermediate Term:   Bearish
  • Long Term:               Bullish
  • Moving Averages: 10-period     50-period     200-period
  • Close:                  19,089.93      19,081.42      16,712.40
  • Volatility:                 35               29                26
  • Volume:               61,032,144     59,091,420     38,338,344

   

BANKNIFTY 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.   BANKNIFTY is currently 19.7% 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 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 14 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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