Indian markets continue to trade firm

Analysis of  NSENIFTY and BANKNIFTY

NSENIFTY closed up  18 PNT at 7,954.350.  Volume was 19% above average (neutral) and Bollinger Bands were 2% wider than normal. 

Open             High             Low          Close           Volume___

7,942.250   7,967.80    7,939.20    7,954.350     189,698,80

Technical Outlook 

Short Term:                     Overbought

Intermediate Term:           Bullish

Long Term:                     Bullish

Moving Averages:    10-period            50-period          200-period

Close:                        7,894.45             7,694.30            6,817.13

Volatility:                          7                        15                     16

Volume:                 130,225,880        136,202,752       160,581,552

  

   NSENIFTY is currently 16.7% 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 moderate flows of volume into NSENIFTY (mildly bullish).  Our trend forecasting oscillators are currently bullish on NSENIFTY and have had this outlook for the last 11 periods.     

BANKNIFTY closed up  22 PNT  at 15,740.400.  Volume was 17% below average (neutral) and Bollinger Bands were 7% narrower than normal. 

Open                  High                   Low                    Close             Volume___

15,758.05        15,794.60        15,688.15         15,740.400      27,074,422

Technical Outlook 

Short Term:                         Neutral

Intermediate Term:               Bullish

Long Term:                         Bullish

Moving Averages:     10-period         50-period          200-period

Close:                       15,576.83         15,239.12          12,904.50

Volatility:                          17                    22                    28

Volume:                   26,053,062        27,065,040           32,440,098

   BANKNIFTY is currently 22.0% 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 6 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.