Indian equity markets had a rather volatile trading session today. After beginning the day on a positive note, stocks moved into the red around noon. However, buying activity intensified heavily in the later hours pushing the indices well above the dotted line. While the BSE-Sensex closed higher by 291 points today, the NSE-Nifty closed higher by 71 points. The S&P BSE Midcap and the S&P BSE Smallcap did well too, closing with gains of 2% and 1% respectively. Gains were largely seen in realty, metal and oil and gas stocks, while those from the IT space were at the receiving end.
NSENIFTY closed up 71.700 at 7,880.700. Volume was 97% above average (neutral) and Bollinger Bands were 52% wider than normal.
- Open High Low Close Volume
- 7,895.400 7,925.400 7,667.250 7,880.700 308,255,264
- Technical Outlook
- Short Term: Oversold
- Intermediate Term: Bearish
- Long Term: Bearish
- Moving Averages: 10-period 50-period 200-period
- Close: 8,302.53 8,417.52 8,453.79
- Volatility: 39 23 20
- Volume: 205,198,672 155,729,136 157,685,456
NSENIFTY is currently 6.8% below 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 NSENIFTY at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on NSENIFTY and have had this outlook for the last 15 periods. Our momentum oscillator is currently indicating that NSENIFTY is currently in an oversold condition.
Asian markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.76%, while the Shanghai Composite led the Nikkei 225 lower. They fell 7.63% and 3.96% respectively. European shares rose on Tuesday to recover some poise after a sharp sell-off in the previous day that saw around 450 bn Euros wiped off the value of leading stocks. The rupee was trading at 66.70 against the US$ at the time of writing.
BANKNIFTY closed up 380.949 at 17,192.750. Volume was 99% above average (neutral) and Bollinger Bands were 68% wider than normal.
- Open High Low Close Volume___
- 17,084.15017,269.15016,670.55117,192.750 123,179,424
- Technical Outlook
- Short Term: Oversold
- Intermediate Term: Bearish
- Long Term: Bearish
- Moving Averages: 10-period 50-period 200-period
- Close: 18,160.97 18,514.81 18,528.92
- Volatility: 52 30 28
- Volume: 87,689,520 64,028,276 56,053,064
BANKNIFTY is currently 7.2% below 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 17 periods.
GOLDBEES closed down -29.250 at 2,444.650. Volume was 68% above average (neutral) and Bollinger Bands were 157% wider than normal.
- Open High Low Close Volume___
- 2,451.0502,472.0002,436.1502,444.650 28,118
- Technical Outlook
- Short Term: Overbought
- Intermediate Term: Bullish
- Long Term: Bullish
- Moving Averages: 10-period 50-period 200-period
- Close: 2,393.82 2,363.68 2,437.33
- Volatility: 15 14 14
- Volume: 22,633 18,544 17,734
GOLDBEES is currently 0.3% above its 200-period moving average and is in an upward trend. Volatility is high 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 bullish on GOLDBEES and have had this outlook for the last 7 periods.
MCX closed up 19.900 at 998.750. Volume was 69% above average (neutral) and Bollinger Bands were 9% wider than normal.
- Open High Low Close Volume___
- 991.0001,017.450 908.500 998.750 498,391
- Technical Outlook
- Short Term: Neutral
- Intermediate Term: Bearish
- Long Term: Bearish
- Moving Averages: 10-period 50-period 200-period
- Close: 1,056.19 1,081.85 1,006.08
- Volatility: 63 43 49
- Volume: 220,321 293,000 463,887
MCX is currently 0.7% below 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 MCX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on MCX and have had this outlook for the last 11 periods.
About Money99
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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