The Indian indices ended on a flat note today after a volatile day of trading. While the morning session witnessed buying activity, these were pared in the subsequent hours. The final trading hour saw the indices close above the dotted line. The BSE-Sensex closed higher by 52 points, the NSE-Nifty closed higher by 17 points. The S&P BSE Midcap inched higher by 0.4% while S&P BSE Smallcap closed lower by 0.3%. Losses were largely seen in banking and auto stocks.
As regards to major global markets, Asian markets finished broadly higher today. The Hang Seng was up 1.39%, while China's Shanghai Composite was up 0.87% and Japan's Nikkei 225 was up 0.12%. European stock markets are trading lower today with uncertainty lingering over Greece's debt crisis. The Indian rupee showed weakness for second day running and depreciated further by 7 paise to Rs 64.04 against the American dollar.
NSENIFTY closed up 17.550 at 7,982.900. Volume was 16% below average (neutral) and Bollinger Bands were 13% wider than normal.
Open High Low Close Volume___7,959.850 7,995.600 7,940.300 7,982.900 140,839,872
Technical Outlook Short Term: NeutralIntermediate Term: BearishLong Term: Bearish
Moving Averages: 10-period 50-period 200-periodClose: 8,118.96 8,353.06 8,345.81Volatility: 20 20 18Volume: 151,402,848 150,782,896 153,023,248
NSENIFTY is currently 4.3% below 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 8 periods.
BANKNIFTY closed up 219.150 at 17,523.551. Volume was 6% below average (neutral) and Bollinger Bands were 10% wider than normal.
Open High Low Close Volume___17,298.449 17,551.350 17,174.699 17,523.551 56,900,276
Technical Outlook Short Term: NeutralIntermediate Term: BearishLong Term: Bearish
Moving Averages: 10-period 50-period 200-periodClose: 17,704.19 18,194.71 17,864.82Volatility: 27 28 26Volume: 60,520,084 55,164,020 46,048,180
BANKNIFTY is currently 1.9% below 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 6 periods.
GOLDBEES closed up 16.000 at 2,444.450. Volume was 8% above average (neutral) and Bollinger Bands were 12% narrower than normal.
Open High Low Close Volume___2,439.4002,449.0002,431.1002,444.450 14,457
Technical Outlook Short Term: NeutralIntermediate Term: BearishLong Term: Bearish
Moving Averages: 10-period 50-period 200-periodClose: 2,451.22 2,461.22 2,476.39Volatility: 10 13 14Volume: 14,306 13,879 18,222
GOLDBEES is currently 1.3% below 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 GOLDBEES at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on GOLDBEES and have had this outlook for the last 11 periods.
MCX closed down -7.950 at 954.950. Volume was 65% below average (consolidating) and Bollinger Bands were 4% wider than normal.
Open High Low Close Volume___965.700 972.900 950.000 954.950 185,018
Technical Outlook Short Term: OversoldIntermediate Term: BearishLong Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 1,003.83 1,062.81 936.70Volatility: 24 48 48Volume: 273,750 324,894 548,029
MCX is currently 1.9% 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 MCX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on MCX and have had this outlook for the last 5 periods.
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