Market Update : Indian stock market continue rise

The Indian benchmark indices, Sensex and NSE-Nifty advanced for fifth day in a row after international credit rating agency Moody's upgraded India's sovereign ratings outlook to 'positive' from stable'. Reacting to this development, the banking stocks were in high demand. Majority of the other sectoral indices were trading in the green. However, Healthcare, Realty and capital goods witnessed maximum selling pressure. Nifty closed today's session with a gain of 0.7% or 63 points while Sensex closed today's session with a profit of 0.62% or 178 points.S&P BSE Midcap and S&P BSE Smallcap ended the volatile session with 0.25% and 0.71% gains, respectively. NSENIFTY closed up  63.899 at 8,778.300.  Volume was 4% below average (neutral) and Bollinger Bands were 12% narrower than normal.  Open               High            Low             Close            Volume___ 8,756.200     8,785.500    8,682.450    8,778.300   158,192,912 Technical Outlook  Short Term:                Overbought Intermediate Term:     Bearish Long Term:                Bullish Moving Averages: 10-period     50-period     200-period Close:                  8,559.68       8,717.46       8,197.07 Volatility:               19               17                16 Volume:            170,957,696    184,752,672    150,776,880    NSENIFTY is currently 7.1% above its 200-period moving average and is in an downward trend.  Volatility is low as compared to the average volatility over the last 10 periods.  Our volume indicators reflect volume flowing into and out of NSENIFTY at a relatively equal pace (neutral).  Our trend forecasting oscillators are currently bearish on NSENIFTY and have had this outlook for the last 21 periods.      As regards global markets, most other Asian indices closed lower today while European indices have opened in the positive. The rupee was placed at Rs 62.44 to the dollar at the time of writing.   BANKNIFTY closed up 459.250 at 18,875.850.  Volume was 31% above average (neutral) and Bollinger Bands were 19% narrower than normal.  Open                High                 Low                Close           Volume___ 18,523.350     18,894.750    18,401.449    18,875.850    72,684,120 Technical Outlook  Short Term:               Neutral Intermediate Term:    Bearish Long Term:               Bullish Moving Averages: 10-period     50-period     200-period Close:                18,374.01      19,054.96      17,210.62 Volatility:               29               30                25 Volume:           55,805,976     63,977,256     39,778,268    BANKNIFTY is currently 9.7% above 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 BANKNIFTY at a relatively equal pace (neutral).  Our trend forecasting oscillators are currently bearish on BANKNIFTY and have had this outlook for the last 39 periods.      Market Exploration Results for 10 April

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