BollingerBands
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Bollingerbands for Tuesday, 17th of July, 2012.
Resistance at 7ema
The slide continues for the 5th day in a row. The upper BB has turned down while the lower BB is still rising, thus making for narrowing bands (Range : 5379-5073, Width : 306). The averages are nearly kissing each other but 20SMA is still green, so there's hope. Besides, despite the fall, India vix has risen
. NF ATP is continuously trending down. Also, the index has closed below 5200 for the second day
The international markets are generally green and so are the DOW futures. Rupee has closed flattish against the USD (despite the slide in the dollar index).
What about tomorrow ?? Well, if the index conclusively crosses 7EMA (5235) and stays above, maybe cautious longs could be taken, otherwise it appears to be a no trade zone to me (except for intraday scalps
India vix = 17.78, NF ATP : 5216.91 LTP = 5192.8
Resistance at 7ema
The slide continues for the 5th day in a row. The upper BB has turned down while the lower BB is still rising, thus making for narrowing bands (Range : 5379-5073, Width : 306). The averages are nearly kissing each other but 20SMA is still green, so there's hope. Besides, despite the fall, India vix has risen
. NF ATP is continuously trending down. Also, the index has closed below 5200 for the second day The international markets are generally green and so are the DOW futures. Rupee has closed flattish against the USD (despite the slide in the dollar index).
What about tomorrow ?? Well, if the index conclusively crosses 7EMA (5235) and stays above, maybe cautious longs could be taken, otherwise it appears to be a no trade zone to me (except for intraday scalps
India vix = 17.78, NF ATP : 5216.91 LTP = 5192.8
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That's why I have marked the yellow box in the graph - to show the previous downslide. It hit the lower BB that time before bouncing back. Also, nifty spent about 8 days below 7EMA before the bounceback.
I don't understand MACD and TRIX very well, but both are now trending downwards. Today the volumes were greater than yesterday's, as if a lot of traders closed their long positions around 5230.
I don't understand MACD and TRIX very well, but both are now trending downwards. Today the volumes were greater than yesterday's, as if a lot of traders closed their long positions around 5230.
Bollingerbands for Wednesday, July 18, 2012 : ?? A dead cat bounce ??
Ok, so we saw some green today, but that's just because the closing is higher than opening. Effectively, even today Nifty has made a lower high and a lower low. Also, the open mouth of the moving averages has closed and 7EMA is 1 point below 20 SMA. Also, 20SMA offered resistance to the index.
There are no cues to indicate an upside. INR has weakened against the USD, the overseas indices are trading weakly and american market futures aren't encouraging either.
Today, it was the results of Bajaj Auto which pumped up the index.
The only encouraging sign is that India vix is further down. Maybe cautious longs can be entertained if the index persists above 5200 and 20SMA.
Bollingerbands are narrowing (Range : 5376-5086, Width : 290), same as before - the top is turning down while the bottom continues to rise.
India vix = 17.78, NF ATP : 5216.91 LTP = 5192.8
Ok, so we saw some green today, but that's just because the closing is higher than opening. Effectively, even today Nifty has made a lower high and a lower low. Also, the open mouth of the moving averages has closed and 7EMA is 1 point below 20 SMA. Also, 20SMA offered resistance to the index.
There are no cues to indicate an upside. INR has weakened against the USD, the overseas indices are trading weakly and american market futures aren't encouraging either.
Today, it was the results of Bajaj Auto which pumped up the index.
The only encouraging sign is that India vix is further down. Maybe cautious longs can be entertained if the index persists above 5200 and 20SMA.
Bollingerbands are narrowing (Range : 5376-5086, Width : 290), same as before - the top is turning down while the bottom continues to rise.
India vix = 17.78, NF ATP : 5216.91 LTP = 5192.8
Bollingerbands for Thursday, July 19, 2012 :Support @20SMA
The index is back in the upper half of the bands, which are quite narrow(Range : 5376-5093, Width : 283). The positive cues are that the India Vix has reduced substantially, Nifty ATP is above 5250 and INR has strengthened slightly against the USD. Also, at this moment, international cues are green and the dollar index has cooled off slightly to below 83 mark.
With BB, the situation continues same as before - the top is turning down while the bottom continues to rise.
The only worrying point is that 7EMA is slightly below 20SMA.
India vix = 16.38, NF ATP : 5256.97 LTP = 5257.50
The index is back in the upper half of the bands, which are quite narrow(Range : 5376-5093, Width : 283). The positive cues are that the India Vix has reduced substantially, Nifty ATP is above 5250 and INR has strengthened slightly against the USD. Also, at this moment, international cues are green and the dollar index has cooled off slightly to below 83 mark.
With BB, the situation continues same as before - the top is turning down while the bottom continues to rise.
The only worrying point is that 7EMA is slightly below 20SMA.
India vix = 16.38, NF ATP : 5256.97 LTP = 5257.50
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