BollingerBands
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Bollingerbands for Tuesday - 19th June, 2012.
Today Nifty has gained some of the ground that it lost yesterday and nominally appears to be continuing the uptrend. It has regained 50% of yesterday's fall and may move further upwards. The Bollingerbands are still facing upwards (Range : 5187-4797, width : 390). Both the moving averages - 7EMA and 20SMA - are still in "open mouth" position pointing upwards and both are green. The width of the mouth is slightly narrower at 87.
1) INR has closed weaker by 12 paisa against the dollar. The dollar index is at 81.69 and keeps skirting with the 82 mark. Europe is trading flattish with a positive bias. Dow futures are slightly positive.
2) India vix is further down to 21.43. In NF, today's ATP is slightly lower than yesterday's, but has covered a lot of ground. Today's LTP is higher than the ATP by about 28 points.
3) Although the cues appear positive, the narrowing mouth of the moving averages should serve as a red flag to the bulls, but since NF has closed comfortably above 7EMA, and also since it has closed above 5100 (as a psychological mark), risky longs can be taken with 7EMA as the SL. The longs may be considered as "risky" as long as yesterday's high of 5190 is not broken.
India Vix = 21.43, NF ATP = 5088.45, LTP = 5114.
Today Nifty has gained some of the ground that it lost yesterday and nominally appears to be continuing the uptrend. It has regained 50% of yesterday's fall and may move further upwards. The Bollingerbands are still facing upwards (Range : 5187-4797, width : 390). Both the moving averages - 7EMA and 20SMA - are still in "open mouth" position pointing upwards and both are green. The width of the mouth is slightly narrower at 87.
1) INR has closed weaker by 12 paisa against the dollar. The dollar index is at 81.69 and keeps skirting with the 82 mark. Europe is trading flattish with a positive bias. Dow futures are slightly positive.
2) India vix is further down to 21.43. In NF, today's ATP is slightly lower than yesterday's, but has covered a lot of ground. Today's LTP is higher than the ATP by about 28 points.
3) Although the cues appear positive, the narrowing mouth of the moving averages should serve as a red flag to the bulls, but since NF has closed comfortably above 7EMA, and also since it has closed above 5100 (as a psychological mark), risky longs can be taken with 7EMA as the SL. The longs may be considered as "risky" as long as yesterday's high of 5190 is not broken.
India Vix = 21.43, NF ATP = 5088.45, LTP = 5114.
Bollingerbands for Wednesday, 20th June, 2012.
Uptrend continues, though anaemically. Both the averages are green and uptrending, the "open mouth" is 83 points wide and the bands have narrowed slightly i.e the lower BB has come up a goodly bit (Range : 5194-4818, Width : 376).
1) Vix is further down to 21.03, today's ATP is about 30 points higher than yesterday's and the LTP of NF is higher than the ATP. Maybe some fresh longs have been built.
2) Indian rupee has weakened against the dollar by about 27 paisa. The dollar index is down to 81.27. Europe is trading mixed with a slightly positive bias. DOW futures are green.
3) The index has again found support at 7EMA.
India Vix = 21.03, NF ATP = 5119.97, LTP = 5129.9.
Uptrend continues, though anaemically. Both the averages are green and uptrending, the "open mouth" is 83 points wide and the bands have narrowed slightly i.e the lower BB has come up a goodly bit (Range : 5194-4818, Width : 376).
1) Vix is further down to 21.03, today's ATP is about 30 points higher than yesterday's and the LTP of NF is higher than the ATP. Maybe some fresh longs have been built.
2) Indian rupee has weakened against the dollar by about 27 paisa. The dollar index is down to 81.27. Europe is trading mixed with a slightly positive bias. DOW futures are green.
3) The index has again found support at 7EMA.
India Vix = 21.03, NF ATP = 5119.97, LTP = 5129.9.
Bollingerbands for 21st June, 2012 : Nifty moves up, Reliance moves down !!
Uptrend continues in Nifty, despite all the bad news. Somewhere in this forum there as a comment "Trade what you see, not what you feel". These days are a classic example of that.
Nifty moved up after opening down slightly. 5100 held despite repeated attempts at breakdown. Then it took off vertically upwards. 7EMA again offered support and Nifty ended once again near the day's high. 5200 appears to be in sight since the moving averages' "open mouth" has expanded to 99 points and both the lines are green and uptrending. The bands have widened (Range : 5224-4803, Width : 421).
1) INR touched its all time lows intraday and has ended weaker by 15 paisa against USD. The dollar index is at 81.60
2) At the time of this writing, the European markets are trading in the red, having begun with a gap down - but they are off their lows. DOW futures are flat with a positive bias.
3) India vix is down to 19.94. In NF, today's ATP is 15 points above yesterday's ATP and the LTP is 45 points above ATP, signifying the late rally and buying at lower levels.
Unless the global cues are negative, Nifty should continue the upmove tomorrow.
India Vix = 19.94, NF ATP = 5131.35, LTP = 5176.60
Uptrend continues in Nifty, despite all the bad news. Somewhere in this forum there as a comment "Trade what you see, not what you feel". These days are a classic example of that.
Nifty moved up after opening down slightly. 5100 held despite repeated attempts at breakdown. Then it took off vertically upwards. 7EMA again offered support and Nifty ended once again near the day's high. 5200 appears to be in sight since the moving averages' "open mouth" has expanded to 99 points and both the lines are green and uptrending. The bands have widened (Range : 5224-4803, Width : 421).
1) INR touched its all time lows intraday and has ended weaker by 15 paisa against USD. The dollar index is at 81.60
2) At the time of this writing, the European markets are trading in the red, having begun with a gap down - but they are off their lows. DOW futures are flat with a positive bias.
3) India vix is down to 19.94. In NF, today's ATP is 15 points above yesterday's ATP and the LTP is 45 points above ATP, signifying the late rally and buying at lower levels.
Unless the global cues are negative, Nifty should continue the upmove tomorrow.
India Vix = 19.94, NF ATP = 5131.35, LTP = 5176.60
Bollingerbands for Friday - June 22, 2012 : Support at 5090.
Nifty recovered sharply from the gap down opening, finding support at 5090 region for a third session in a row. It hasn't made any new highs, but the lows are holding. Meanwhile, the moving averages are still uptrending and green and the gap between them has narrowed slightly to 97 points. The bands are also uptrending on this the 16th day of uptrend (from June 4 lows). The range of BB is 5238-4812 and the width is 426 points.
1) INR is sharply down against USD and trading at Rs.57.21 at this time. The dollar index is at 82.30. Europe is trading in red but is off its lows. DOW futures are marginally in the green.
2) India vix is up at 20.58 but the average traded price is up by 3 points from yesterday despite the day being spent in the red, indicating that perhaps some shorts were covered / longs built up. The LTP is above ATP.
The outlook doesn't seem very bullish, but the price line isn't falling drastically so there is no cue to trading the expiry week.
India Vix = 20.48, NF ATP = 5134.34 LTP = 5155.25
Nifty recovered sharply from the gap down opening, finding support at 5090 region for a third session in a row. It hasn't made any new highs, but the lows are holding. Meanwhile, the moving averages are still uptrending and green and the gap between them has narrowed slightly to 97 points. The bands are also uptrending on this the 16th day of uptrend (from June 4 lows). The range of BB is 5238-4812 and the width is 426 points.
1) INR is sharply down against USD and trading at Rs.57.21 at this time. The dollar index is at 82.30. Europe is trading in red but is off its lows. DOW futures are marginally in the green.
2) India vix is up at 20.58 but the average traded price is up by 3 points from yesterday despite the day being spent in the red, indicating that perhaps some shorts were covered / longs built up. The LTP is above ATP.
The outlook doesn't seem very bullish, but the price line isn't falling drastically so there is no cue to trading the expiry week.
India Vix = 20.48, NF ATP = 5134.34 LTP = 5155.25
Bollingerbands for Monday - June 25, 2012 : 5100 holds, just about.
So, a down day today. It broke the previous swing high of 5190 and reversed and closed just about the low of the day. The moving averages seem somewhat unsure of the direction and the mouth of the averages is reducing - down to 81 points. The bands have narrowed slightly (Range : 5236-4836, width : 400).
1) India vix is up at 21.57. NF ATP is up compared to yesterday but the LTP is way below the ATP, and much below its previous close.
2) INR has closed stronger by 12 paisa against the USD. The dollar index is up at 82.62 and looks like going up. Europe is in deep red and DOW futures are also red.
Unless something happens to change the sentiment of the market, tomorrow also looks like a red day. But overall last few sessions have formed a congestion zone similar to the one marked on the chart, and seems to be making slightly higher bottoms. Let's see which way the breakout comes.
India Vix = 21.57, NF ATP = 5160.12 LTP = 5105.55
So, a down day today. It broke the previous swing high of 5190 and reversed and closed just about the low of the day. The moving averages seem somewhat unsure of the direction and the mouth of the averages is reducing - down to 81 points. The bands have narrowed slightly (Range : 5236-4836, width : 400).
1) India vix is up at 21.57. NF ATP is up compared to yesterday but the LTP is way below the ATP, and much below its previous close.
2) INR has closed stronger by 12 paisa against the USD. The dollar index is up at 82.62 and looks like going up. Europe is in deep red and DOW futures are also red.
Unless something happens to change the sentiment of the market, tomorrow also looks like a red day. But overall last few sessions have formed a congestion zone similar to the one marked on the chart, and seems to be making slightly higher bottoms. Let's see which way the breakout comes.
India Vix = 21.57, NF ATP = 5160.12 LTP = 5105.55
Bollingerbands for Monday - June 25, 2012 : Looks Green, Feels Red
Maybe yesterday's downmove was the market's way of booing Pranab Mukherjee on his way out of the Finance Ministry.
Today was flattish, with nifty closing 6 points above yesterday's close. A narrow range way with average true range of 39.05 points. The bands are nearly flat (Range : 5245-4841, Width : 404) and the moving averages are green with the gap width of 111 points, which is significantly higher than yesterday's.
1) India vix is down to 20.23, NT ATP is about 50 points lower than yesterday's and the LTP is above ATP.
2) INR has closed flat but is still above Rs. 57 against the USD. The dollar index is up at 82.39. Europe is trading mixed and DOW futures are flat with positive bias.
The uptrend has weakened considerably but there is no reason to believe that there is a reversal to downtrend.
India Vix = 20.23, NF ATP = 5119.89 LTP = 5136.00
Those who are following "EMA strip in BB" for the daily will notice that the yellow line is out of the blue strip.
Maybe yesterday's downmove was the market's way of booing Pranab Mukherjee on his way out of the Finance Ministry.
Today was flattish, with nifty closing 6 points above yesterday's close. A narrow range way with average true range of 39.05 points. The bands are nearly flat (Range : 5245-4841, Width : 404) and the moving averages are green with the gap width of 111 points, which is significantly higher than yesterday's.
1) India vix is down to 20.23, NT ATP is about 50 points lower than yesterday's and the LTP is above ATP.
2) INR has closed flat but is still above Rs. 57 against the USD. The dollar index is up at 82.39. Europe is trading mixed and DOW futures are flat with positive bias.
The uptrend has weakened considerably but there is no reason to believe that there is a reversal to downtrend.
India Vix = 20.23, NF ATP = 5119.89 LTP = 5136.00
Those who are following "EMA strip in BB" for the daily will notice that the yellow line is out of the blue strip.
Bollingerbands for Thursday - June 28, 2012. Expiry day - A double top at 5160 and a double bottom around 5125.
Nothing much to say about nifty today. Technically the uptrend continues with both the moving averages green, but the mouth has reduced to 67 points. The bands themselves have narrowed somewhat (Range : 5260-4867, width : 393). 7EMA has once again provided support to the trend. Even if the index goes down, maybe 20SMA will be the next line of defence for the bulls.
1) Rupee has closed somewhat stronger at 56.80 against USD, ignoring the dollar index which has climbed up to 82.73.
2) Europe is trading deep in the red ahead of the EU meeting and DOW futures are red by about 0.5%.
3) India vix is slightly down at 20.62.
Nothing much to say about nifty today. Technically the uptrend continues with both the moving averages green, but the mouth has reduced to 67 points. The bands themselves have narrowed somewhat (Range : 5260-4867, width : 393). 7EMA has once again provided support to the trend. Even if the index goes down, maybe 20SMA will be the next line of defence for the bulls.
1) Rupee has closed somewhat stronger at 56.80 against USD, ignoring the dollar index which has climbed up to 82.73.
2) Europe is trading deep in the red ahead of the EU meeting and DOW futures are red by about 0.5%.
3) India vix is slightly down at 20.62.
Bolllingerbands for Friday, 29th June, 2012 : Breakout !!
Nifty finally broke out of its previous congestion zone of 5090-5200, and did it in style, the same style as during the January uptrend (see the yellow box) !! Upper BB touched today and the moving averages looking happy and open mouthed. Range of BB : 5276-4895, Width : 381.
1) Indian rupee closed stronger by 2.13% @Rs. 55.61 against the dollar. The dollar index is down to below 82 mark.
2) Europe is trading strongly in the green and the DOW futures are green too.
3) India vix is down indicating a possible further upside, maybe 5300 (spot)
4) On the weekly BB, the index has closed above its 20SMA.
India vix = 19.08, NF ATP : 5273.42, LTP = 5288.75
Nifty finally broke out of its previous congestion zone of 5090-5200, and did it in style, the same style as during the January uptrend (see the yellow box) !! Upper BB touched today and the moving averages looking happy and open mouthed. Range of BB : 5276-4895, Width : 381.
1) Indian rupee closed stronger by 2.13% @Rs. 55.61 against the dollar. The dollar index is down to below 82 mark.
2) Europe is trading strongly in the green and the DOW futures are green too.
3) India vix is down indicating a possible further upside, maybe 5300 (spot)
4) On the weekly BB, the index has closed above its 20SMA.
India vix = 19.08, NF ATP : 5273.42, LTP = 5288.75
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