Thursday, 9 April 2015

Market Update : Indian stock market continue rise


The Indian benchmark indices, Sensex and NSE-Nifty advanced for fifth day in a row after international credit rating agency Moody's upgraded India's sovereign ratings outlook to 'positive' from stable'. Reacting to this development, the banking stocks were in high demand. Majority of the other sectoral indices were trading in the green. However, Healthcare, Realty and capital goods witnessed maximum selling pressure. Nifty closed today's session with a gain of 0.7% or 63 points while Sensex closed today's session with a profit of 0.62% or 178 points.S&P BSE Midcap and S&P BSE Smallcap ended the volatile session with 0.25% and 0.71% gains, respectively.



NSENIFTY closed up  63.899 at 8,778.300.  Volume was 4% below average (neutral) and Bollinger Bands were 12% narrower than normal. 

Open               High            Low             Close            Volume___
8,756.200     8,785.500    8,682.450    8,778.300   158,192,912



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


Moving Averages: 10-period     50-period     200-period
Close:                  8,559.68       8,717.46       8,197.07
Volatility:               19               17                16
Volume:            170,957,696    184,752,672    150,776,880


   NSENIFTY is currently 7.1% above its 200-period moving average and is in an downward 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 NSENIFTY at a relatively equal pace (neutral).  Our trend forecasting oscillators are currently bearish on NSENIFTY and have had this outlook for the last 21 periods.     


As regards global markets, most other Asian indices closed lower today while European indices have opened in the positive. The rupee was placed at Rs 62.44 to the dollar at the time of writing. 


 BANKNIFTY closed up 459.250 at 18,875.850.  Volume was 31% above average (neutral) and Bollinger Bands were 19% narrower than normal. 

Open                High                 Low                Close           Volume___
18,523.350     18,894.750    18,401.449    18,875.850    72,684,120


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

Moving Averages: 10-period     50-period     200-period
Close:                18,374.01      19,054.96      17,210.62
Volatility:               29               30                25
Volume:           55,805,976     63,977,256     39,778,268


   BANKNIFTY is currently 9.7% 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 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 39 periods.     

Market Exploration Results for 10 April


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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