Generally, lower volatility is associated with buying in the equities. So, we are likely to see more upside as per this parameter. Of course, it is a guidance only and it can change in a flash. Yes, more upside is expected, unless the global cues change for much worse. Locally, as long as FII buying is in force, it looks like buy on dips.
BollingerBands
- Thread starter columbus
- Start date
Bollingerbands for Friday, 20th July, 2012 : Support at 5200, resistance at 20SMA
A downtrending day, as is normal with the days before Reliance results. Also, Sharad Pawar's political googly must've spooked the markets. Anyway, technically too it looks like some sort of downtrend because 7EMA is now fully below 20 SMA, and is red again, and yesterday's minimal gap of 2 points has increased to 12 points.
20SMA is still green and the BB are still narrower (Range : 5374-5101, Width : 273). The upper BB is flattish while the lower BB is still rising. There is a marginal increase in India vix. Maybe a violent move is coming. Don't know on which side.
At this point, European markets are trading in the red (0.5%) and DOW futures are red too. INR has closed weaker by 15 paisa against USD and dollar index is way above 83 mark (83.40).
These cues aren't very encouraging for the bulls, but Reliance results can change the equation drastically. Also, let's remember that, on the way up too, when the upmove stumbled, Nifty found repeated support at 5100.
In futures, today's ATP is far below yesterday's and was trending down the whole day. NF found it nearly impossible to cross its ATP almost throughout the session, but something kept it up during the last few minutes and the futures have ended about half a point above the ATP.
I wish some member here would tell us more about how to trade the relationship between ATP and CMP.
India vix = 16.89, NF ATP : 5219.92 LTP = 5220.45
A downtrending day, as is normal with the days before Reliance results. Also, Sharad Pawar's political googly must've spooked the markets. Anyway, technically too it looks like some sort of downtrend because 7EMA is now fully below 20 SMA, and is red again, and yesterday's minimal gap of 2 points has increased to 12 points.
20SMA is still green and the BB are still narrower (Range : 5374-5101, Width : 273). The upper BB is flattish while the lower BB is still rising. There is a marginal increase in India vix. Maybe a violent move is coming. Don't know on which side.
At this point, European markets are trading in the red (0.5%) and DOW futures are red too. INR has closed weaker by 15 paisa against USD and dollar index is way above 83 mark (83.40).
These cues aren't very encouraging for the bulls, but Reliance results can change the equation drastically. Also, let's remember that, on the way up too, when the upmove stumbled, Nifty found repeated support at 5100.
In futures, today's ATP is far below yesterday's and was trending down the whole day. NF found it nearly impossible to cross its ATP almost throughout the session, but something kept it up during the last few minutes and the futures have ended about half a point above the ATP.
I wish some member here would tell us more about how to trade the relationship between ATP and CMP.
India vix = 16.89, NF ATP : 5219.92 LTP = 5220.45
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