Analysis of activity through 22/08/2014

Analysis Of NSENIFTY And Banknifty

NSENIFTY closed up  22 pnt at 7,913.  Volume was 35% below average (neutral) and Bollinger Bands were 15% narrower than normal. 

Open               High               Low             Close           Volume___

7,904.550     7,929.050     7,900.050     7,913.200     104,074,856

          The current trend is up and all orders on the long side may be considered. Market activity analysis suggests that long trades put on outside of the +L+ focus zone have a  lower probabilty of success than those placed in those zones highlighted on the expert ribbon.  The current market price activity is Strongly Bullish and suggests favorable trade opportunities on the long side.

Overall, the bias in prices is: Upwards. 

Short term: Prices are moving.

Intermediate term: Prices are trending.

The projected upper bound is: 8,108.86.

The projected lower bound is: 7,728.99.

The projected closing price is: 7,918.93.  

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BANKNIFTY closed up 156.950 at 15,819  Volume was 3% below average (neutral) and Bollinger Bands were 21% narrower than normal. 

Open             High             Low              Close        Volume___

15,699.05    15,865.30    15,696.30    15,819.15  32,028,572

     The current trend is up and all orders on the long side may be considered. Market activity analysis suggests that long trades put on outside of the +L+ focus zone have a  lower probabilty of success than those placed in those zones highlighted on the expert ribbon.  The current market price activity is Strongly Bullish and suggests favorable trade opportunities on the long side.

Overall, the bias in prices is: Upwards. 

Short term: Prices are moving.

Intermediate term: Prices are ranging.

The projected upper bound is: 16,392.06.

The projected lower bound is: 15,260.98.

The projected closing price is: 15,826.52.  

Note: this chart shows extraordinary price action to the upside.

Note: these price projections are for reference only, and can be easily exceeded by the market.

  

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.