Todays Market : Selling pressure intensifies in the last hour

NSENIFTY closed down -97 points  at 8,340.700.  Volume was 6% above average (neutral) and Bollinger Bands were 36% narrower than normal.

The BSE-Sensex today closed lower by 322 points, Midcaps and Smallcaps too closed in the red today. While the BSE Mid Cap index was down by 1.57%, the BSE Small Cap index closed lower by 1.59%. Power and metal stocks were the biggest losers today.

• Open           High            Low            Close        Volume___
• 8,439.300    8,444.500    8,330.500    8,340.700    146,266,704

• Technical Outlook
• Short Term:                Oversold
• Intermediate Term:     Bullish
• Long Term:                Bullish

• Moving Averages: 10-period     50-period     200-period
• Close:                  8,505.81       8,202.67       7,464.22
• Volatility:                 13                14               15
• Volume:             143,957,616    146,747,408    154,673,360

   NSENIFTY is currently 11.7% 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 NSENIFTY at a relatively equal pace (neutral).  Our trend forecasting oscillators are currently bullish on NSENIFTY and have had this outlook for the last 26 periods.     

BANKNIFTY closed down -219.400 at 18,290.650.  Volume was 43% above average (neutral) and Bollinger Bands were 17% wider than normal.

• Open              High                Low             Close       Volume___
• 18,499.949    18,585.350    18,248.100    18,290.650  39,683,604

• Technical Outlook
• Short Term:               Neutral
• Intermediate Term:    Bullish
• Long Term:                Bullish

• Moving Averages: 10-period     50-period     200-period
• Close:                   18,457.89      16,947.97      14,764.25
• Volatility:                   20                 23                 25
• Volume:              40,456,468     30,319,478     31,225,082

   BANKNIFTY is currently 23.9% above its 200-period moving average and is in an upward trend.  Volatility is   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 31 periods.    our momentum oscillator has set a new 14-period low while the security price has not.  This is a bearish divergence. 

GOLDBEES closed up   7.150 at 2,437.400.  Volume was 14% below average (neutral) and Bollinger Bands were 27% narrower than normal.

Open              High          Low           Close      Volume___2,430.000    2,444.000    2,425.500   2,437.400      19,324

• Technical Outlook
• Short Term:               Neutral
• Intermediate Term:    Bearish
• Long Term:                Bearish

• Moving Averages: 10-period     50-period     200-period
• Close:                  2,433.91       2,457.49       2,602.94
• Volatility:                   17               16              14
• Volume:                28,167         26,804         26,113

   GOLDBEES is currently 6.4% 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 GOLDBEES at a relatively equal pace (neutral).  Our trend forecasting oscillators are currently bearish on GOLDBEES and have had this outlook for the last 24 periods.    

 MCX closed down -14.750 at 853.600.  Volume was 59% below average (consolidating) and Bollinger Bands were 52% narrower than normal.

• Open     High      Low     Close     Volume___
• 870.800  875.750  851.000  853.600     264,458

• Technical Outlook
• Short Term:          Oversold
• Intermediate Term:   Bullish
• Long Term:           Bullish

• Moving Averages: 10-period     50-period     200-period
• Close:            872.67         828.48         684.20
• Volatility:           27             36             57
• Volume:          486,559        499,151      1,215,737

   MCX is currently 24.8% 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 27 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.