The BSE-Sensex closed higher by about 255 points or 0.9%, while the NSE-Nifty closed higher by 94 points or 1.1%. Barring stocks from the information technology space, buying activity was seen across the board with banking and automobile stocks being the top gainers. Midcaps and smallcaps ended the day on a firm note as well with the BSE Mid Cap and BSE Small Cap indices closing higher by about 1% and 0.3 respectively.
NSENIFTY closed up 94.050 at 8,588.250. Volume was 43% above average (neutral) and Bollinger Bands were 23% narrower than normal.
- Open High Low Close Volume___
- 8,516.800 8,617.000 8,516.250 8,588.250 197,214,624
- Technical Outlook
- Short Term: Overbought
- Intermediate Term: Bullish
- Long Term: Bullish
- Moving Averages: 10-period 50-period 200-period
- Close: 8,466.96 8,140.23 7,378.16
- Volatility: 11 15 15
- Volume: 158,975,600 146,037,696 156,227,584
NSENIFTY gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist - Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
NSENIFTY is currently 16.4% 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 19 periods. Our momentum oscillator is currently indicating that NSENIFTY is currently in an overbought condition. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.
Stock markets in other parts of Asia ended in the green, while European stocks were trading weak at the time of writing. The rupee was trading at Rs 61.97 to the dollar at the time of writing.
BANKNIFTY closed up 490.650 at 18,513.150. Volume was 148% above average (neutral) and Bollinger Bands were 17% wider than normal.
- Open High Low Close Volume___
- 18,082.400 18,615.400 18,082.400 18,513.150 67,159,536
- Technical Outlook
- Short Term: Neutral
- Intermediate Term: Bullish
- Long Term: Bullish
- Moving Averages: 10-period 50-period 200-period
- Close: 17,946.05 16,598.97 14,470.84
- Volatility: 23 23 25
- Volume: 40,695,360 28,619,900 31,137,566
BANKNIFTY gapped up today (bullish) on normal volume. Possibility of a Runaway Gap which usually signifies a continuation of the trend. Four types of price gaps exist - Common, Breakaway, Runaway, and Exhaustion. Gaps acts as support/resistance.
BANKNIFTY is currently 27.9% above its 200-period moving average and is in an upward 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 bullish on BANKNIFTY and have had this outlook for the last 24 periods. Our momentum oscillator is currently indicating that BANKNIFTY is currently in an overbought condition. The security price has set a new 14-period high while our momentum oscillator has not. This is a bearish divergence.
GOLDBEES closed down -1.750 at 2,442.900. Volume was 31% below average (neutral) and Bollinger Bands were 12% narrower than normal.
- Open High Low Close Volume___
- 2,435.050 2,450.000 2,415.000 2,442.900 15,016
- Technical Outlook
- Short Term: Neutral
- Intermediate Term: Bearish
- Long Term: Bearish
- Moving Averages: 10-period 50-period 200-period
- Close: 2,442.77 2,467.02 2,614.98
- Volatility: 13 14 14
- Volume: 28,288 26,330 25,859
GOLDBEES is currently 6.6% below its 200-period moving average and is in an downward 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 volume flowing into and out of GOLDBEES at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on GOLDBEES and have had this outlook for the last 17 periods.
MCX closed down -11.300 at 867.550. Volume was 77% below average (consolidating) and Bollinger Bands were 49% narrower than normal.
- Open High Low Close Volume___
- 885.000 885.000 865.000 867.550 216,735
- Technical Outlook
- Short Term: Neutral
- Intermediate Term: Bullish
- Long Term: Bullish
- Moving Averages: 10-period 50-period 200-period
- Close: 870.41 821.28 671.09
- Volatility: 36 36 57
- Volume: 628,591 487,649 1,241,588
MCX is currently 29.3% 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 MCX (mildly bullish). Our trend forecasting oscillators are currently bullish on MCX and have had this outlook for the last 20 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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