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