Wednesday, 7 October 2015

Domestic markets rose for sixth straight day to close near its one-and-a-half month high : 07 Oct 2015

Indian equity markets closed in the green on firm global cues. Except IT and technology, all the other sectors closed the day in green today. Stocks from the automobiles, metals and realty pack were in favor today. The BSE-Sensex closed higher by 103 points and the NSE-Nifty was up by 25 points. Also, the BSE Mid Cap and the BSE Small Cap closed the day on a positive note and were up by 0.1% and 0.4% respectively.

NSENIFTY closed up  24.500 at 8,177.400.  Volume was 22% above average (neutral) and Bollinger Bands were 3% narrower than normal. 


  • Open     High      Low     Close     Volume___
  • 8,146.2008,188.9008,132.9008,177.400 199,911,168

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

  • Moving Averages: 10-period     50-period     200-period
  • Close:                 7,951.48       8,104.69       8,376.97
  • Volatility:                21               26              21
  • Volume:           187,389,664    184,716,272    163,795,424



   NSENIFTY is currently 2.4% below its 200-period moving average and is in an upward 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 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.    


Asian markets finished broadly higher today with shares in Hong Kong leading the region. The Hang Seng is up 3.13% while Japan's Nikkei 225 is up 0.75% and China's Shanghai Composite is up 0.48%. European markets too opened higher with shares in Germany leading the region. The rupee firmed up by 17 paise to quote at 65.24 against the US dollar in the afternoon session.



BANKNIFTY closed up  11.451 at 17,616.801.  Volume was 23% below average (neutral) and Bollinger Bands were 2% wider than normal. 


  • Open     High      Low     Close     Volume___
  • 17,577.50017,674.55117,500.35017,616.801  50,519,628

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

  • Moving Averages: 10-period     50-period     200-period
  • Close:                 17,312.73      17,609.33      18,376.91
  • Volatility:                 28             36                30
  • Volume:            64,001,736     75,750,272     61,009,128



   BANKNIFTY is currently 4.1% below its 200-period moving average and is in an upward 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 bullish on BANKNIFTY and have had this outlook for the last 5 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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