The Indian equity markets rebounded from their fifteen-month lows in the post noon session to trade above the crucial 25,000-level on value buying amid recovery in rupee and positive Chinese markets. The Sensex today ended higher by 424 points while the NSE-Nifty ended higher by 130 points. The S&P BSE Midcap and S&P BSE Smallcap index also did well to notch gains of 1% and 0.6% respectively. Barring consumer durables and FMCG stocks, all the sectoral indices were flourishing in the green. banking and capital goods witnessed majority of the buying activity.
Asian stock markets closed mixed as of the most recent closing prices. The Hang Seng gained 3.33% and the Shanghai Composite rose 2.92%. The Nikkei 225 lost 2.43%. European markets have opened on a mixed note. The rupee was trading at 66.64 against the US currency in the afternoon session.
NSENIFTY closed up 129.450 at 7,688.250. Volume was 9% above average (neutral) and Bollinger Bands were 118% wider than normal.
- Open High Low Close Volume___
- 7,587.7007,720.9007,539.5007,688.250 177,514,608
- Technical Outlook
- Short Term: Oversold
- Intermediate Term: Bearish
- Long Term: Bearish
- Moving Averages: 10-period 50-period 200-period
- Close: 7,794.20 8,315.30 8,424.73
- Volatility: 29 25 21
- Volume: 203,955,408 167,013,184 161,177,536
NSENIFTY is currently 8.7% below its 200-period moving average and is in an downward 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 NSENIFTY at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on NSENIFTY and have had this outlook for the last 25 periods.
BANKNIFTY closed up 560.851 at 16,350.950. Volume was 26% above average (neutral) and Bollinger Bands were 138% wider than normal.
- Open High Low Close Volume___
- 15,888.50016,419.00015,819.55016,350.950 82,216,808
- Technical Outlook
- Short Term: Neutral
- Intermediate Term: Bearish
- Long Term: Bearish
- Moving Averages: 10-period 50-period 200-period
- Close: 16,609.91 18,202.96 18,484.92
- Volatility: 41 34 29
- Volume: 82,937,496 69,192,704 58,978,720
BANKNIFTY is currently 11.5% 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 27 periods.
GOLDBEES closed down -1.550 at 2,410.300. Volume was 40% below average (neutral) and Bollinger Bands were 9% wider than normal.
- Open High Low Close Volume___
- 2,405.0502,415.0002,398.0002,410.300 9,673
- Technical Outlook
- Short Term: Neutral
- Intermediate Term: Bullish
- Long Term: Bearish
- Moving Averages: 10-period 50-period 200-period
- Close: 2,416.87 2,360.26 2,437.73
- Volatility: 12 14 14
- Volume: 12,667 18,783 16,708
GOLDBEES is currently 1.1% below 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 moderate flows of volume into GOLDBEES (mildly bullish). Our trend forecasting oscillators are currently bullish on GOLDBEES and have had this outlook for the last 17 periods.
MCX closed up 31.300 at 950.700. Volume was 44% below average (neutral) and Bollinger Bands were 29% wider than normal.
- Open High Low Close Volume___
- 921.050 958.050 913.900 950.700 157,871
- Technical Outlook
- Short Term: Neutral
- Intermediate Term: Bearish
- Long Term: Bearish
- Moving Averages: 10-period 50-period 200-period
- Close: 978.93 1,067.59 1,012.09
- Volatility: 56 47 50
- Volume: 163,628 255,908 450,542
MCX is currently 6.1% 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 21 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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