Midcaps favoured today

Analysis of NSENIFTY and  BANKNIFTY 

                       Indian equity benchmarks ended the choppy day of trade in 

red terrain on Thursday as investors opted to book some profit of the table 

after a slew of rallies amid sluggishness in other global markets.

                                Stock markets in other parts of Asia closed on a mixed note today with 

Japan and Hong Kong  closing lower by about 0.3% and 0.1% respectively, while China ended 

higher by 0.8%. European stocks were trading weak at the time of writing. The rupee was 

trading at Rs 60.45 to the dollar at the time of writing.

NSENIFTY closed down -18.650 at 8,095.950.  Volume was 12% below average (neutral) and 

Bollinger Bands were 27% wider than normal. 

Open               High               Low              Close               Volume___

8,114.200     8,114.800     8,060.900     8,095.950     141,280,512

Technical Outlook 

Short Term:                       Overbought

Intermediate Term:           Bullish

Long Term:                        Bullish

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

Close:                              7,982.71             7,738.65              6,856.61

Volatility:                                6                         15                          16

Volume:                       135,648,496        136,218,048        160,318,928

   NSENIFTY is currently 18.1% above 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 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 15 periods.   Our momentum oscillator is currently indicating that NSENIFTY is currently in an overbought condition.  

BANKNIFTY closed down -76.450 at 16,033.550.  Volume was 100% below average (consolidating) and Bollinger Bands were 22% wider than normal. 

Open                    High                 Low              Close                Volume___

16,102.900      16,114.750      15,926.650     16,033.550               0

Technical Outlook 

Short Term:                        Overbought

Intermediate Term:            Bullish

Long Term:                         Bullish

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

Close:                        15,851.94              15,317.62                13,009.39

Volatility:                           15                            22                          28

Volume:                     23,618,160           26,494,066              32,003,828

   BANKNIFTY is currently 23.2% 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 BANKNIFTY (mildly bullish).  Our trend forecasting oscillators are currently bullish on BANKNIFTY and have had this outlook for the last 10 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.