Market updates : Weak end to the week for 26 June 2015

The weak sentiments in the Indian markets continued throughout the day with the BSE-Sensex closing lower by about 84 points, while the NSE-Nifty closed lower by about 17 points. S&P BSE Midcap and S&P BSE Smallcap ended the day on a flat note. Most sectoral indices posted losses, with capital goods and banking stocks being the top losers today.

European equities were weak again as Greek talks draw another blank. Asian markets finished broadly lower today with shares in China leading the region. The Shanghai Composite is down 7.40% while Hong Kong's Hang Seng is off 1.79% and Japan's Nikkei 225 is lower by 0.31%. The rupee wiped off its initial losses and was trading a tad strong at 63.61 against the US$.

NSENIFTY closed down -16.900 at 8,381.100.  Volume was 29% below average (neutral) and Bollinger Bands were 9% wider than normal.


Open              High              Low            Close        Volume___
8,393.950    8,408.550   8,339.700   8,381.100   113,959,472

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

Moving Averages: 10-period     50-period     200-period
Close:                  8,242.69       8,262.37       8,364.30
Volatility:                10               21                18
Volume:           144,080,432    155,506,448    153,894,048



   NSENIFTY is currently 0.2% above its 200-period moving average and is in an upward trend.  Volatility is relatively normal 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 bullish on NSENIFTY and have had this outlook for the last 3 periods.    


BANKNIFTY closed down -121.400 at 18,371.500.  Volume was 9% below average (neutral) and Bollinger Bands were 1% wider than normal. 



Open               High                Low              Close          Volume___
18,461.600  18,461.600    18,199.250    18,371.500   51,902,056

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

Moving Averages: 10-period     50-period     200-period
Close:                  18,021.54      18,076.13      17,991.21
Volatility:                    16                28              26
Volume:              55,638,944     58,702,216     47,526,916

 
   BANKNIFTY is currently 2.1% above its 200-period moving average and is in an upward trend.  Volatility is relatively normal 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 bullish on BANKNIFTY and have had this outlook for the last 2 periods.     


Market updates : Weak end to the week for 26 June 2015 Market updates : Weak end to the week for 26 June 2015 Reviewed by Money99 on 21:51:00 Rating: 5

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