The Indian Indices ended the day on a very weak note with the 30-share BSE Sensex tanking by 630 points (down 2.29%) and the 50-share NSE-Nifty falling by about 200 points (down 2.38%). BSE Mid Cap and BSE Small Cap indices also ended the day deep in the red as both the indices were down by about 1.7% each. All the sectoral indices were trading in the red with Capital goods, Power, Metal and Oil & Gas leading the pack. Healthcare and FMCG sector witnessed the least amount of profit booking.
European markets have opened sharply lower with lingering concerns about Greece's debt situation. The stocks in Germany were off the most. Asian markets finished on a mixed note. South Korea, Hong Kong, Malaysia and Thailand traded weak while Chinese equities bucked the trend and rose modestly.
NSENIFTY closed down -198.300 at 8,126.950. Volume was 8% above average (neutral) and Bollinger Bands were 39% wider than normal.
- Open High Low Close Volume___
- 8,326.150 8,326.650 8,115.300 8,126.950 178,753,984
- Technical Outlook
- Short Term: Neutral
- Intermediate Term: Bearish
- Long Term: Bearish
- Moving Averages: 10-period 50-period 200-period
- Close: 8,216.16 8,553.04 8,278.77
- Volatility: 30 21 17
- Volume: 174,091,584 164,989,376 150,987,664
NSENIFTY is currently 1.8% below its 200-period moving average and is in an downward 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 moderate flows of volume out of NSENIFTY (mildly bearish). Our trend forecasting oscillators are currently bearish on NSENIFTY and have had this outlook for the last 15 periods.
BANKNIFTY closed down -571.100 at 17,628.650. Volume was 20% above average (neutral) and Bollinger Bands were 15% narrower than normal.
- Open High Low Close Volume___
- 18,193.551 18,193.551 17,597.750 17,628.650 69,364,984
- Technical Outlook
- Short Term: Neutral
- Intermediate Term: Bearish
- Long Term: Bullish
- Moving Averages: 10-period 50-period 200-period
- Close: 18,066.12 18,565.80 17,524.13
- Volatility: 42 32 26
- Volume: 66,285,148 55,850,608 42,404,336
BANKNIFTY is currently 0.6% above its 200-period moving average and is in an downward 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 bearish on BANKNIFTY and have had this outlook for the last 3 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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