BollingerBands

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Bolllingerbands for Monday, 2nd July, 2012 : ??Consolidation

A narrow range day (ATR=38.3) after Friday's breakout. The uptrend seems intact with the Nifty hitting upper BB again. The price has spent the whole session above 7EMA. Both the moving averages are green and uptrending and the gap between them is 88 points. The bands have narrowed somewhat (Range : 5281-4932, Width : 349).

1) India vix is down to 19.01
2) Rupee has closed about 7 paisa stronger against the dollar.
3) Europe is trading well in green and DOW futures are green too.

India vix = 19.01, NF ATP : 5300.00, LTP = 5293.00

 

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Bolllingerbands for Tuesday, 3rd July, 2012 : Uptrend continues.

Upper BB touched again, for 3rd session in a row, in narrowing BB (Range : 5298-4961, width : 337). The moving averages continue their march upwards and the open mouth is 97 points wide. The lower BB is still rising while the upper band shows signs of flattening. I don't know what this means.

Meanwhile, the world markets are green. Rupee has had a good day against the dollar and ended at 54.32, nearly 2% stronger. India vix is down to 18.56. Despite the choppiness, Nifty ended the day 9.35 points higher today.

I guess tomorrow will be another up day. In case of a down move, we can expect 7EMA (5227) to provide support.

India vix = 18.56, NF ATP : 5308.09 LTP = 5301.5

 

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Bolllingerbands for Wednesday, 4rd July, 2012 : Uptrend continues and upper BB touched for 4th session in a row !

The bands are narrowing (Range : 5301-4986, width : 315). The moving averages continue their march upwards and the open mouth is 96 points wide. The lower BB is still rising while the upper band shows signs of flattening.

While the asian markets ended in green, the europe is trading in red at this moment. US markets are closed today. India vix is further down to 18.27 and the rupee closed slightly weaker (-0.5%) against the dollar.

Today's ATP is higher than yesterday's and the LTP is greater than ATP.

India vix = 18.27, NF ATP : 5312.64 LTP = 5320.40

 

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Bolllingerbands for Thursday, 5th July, 2012 : Uptrend continues and upper BB touched for 5th session in a row !

The bands are flattish (Range : 5328-4987, width : 341). The moving averages continue their march upwards and the open mouth is 104 points wide.

Europe is trading in green at this moment and DOW futures are slightly in the green too. India vix is slightly up at 18.35.

Today's ATP is higher than yesterday's and the LTP is greater than ATP.

India vix = 18.35, NF ATP : 5333.87 LTP = 5341.45

 

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Bolllingerbands for Friday, 6th July, 2012 : Pause !!

Nifty left the upper BB today and moved towards 7EMA. The moving averages continue to be in uptrend and the gap between them is now 105 points. The Range of BB is 5348-4991 and the width is 357 points.

INR has closed weaker at 55.41 and the global indices are marginally in the red and not doing much. India vix is down to 18.04

Today's ATP is lower than yesterday's and the LTP is greater than ATP.

India vix = 18.04, NF ATP : 5319.19 LTP = 5329

 

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Bolllingerbands for Monday, 9th July, 2012 : Pullback !!

Nifty made laborious gains last week, 1 point one day, 10 points the next day etc.. and today, lost it all and then some. Just like most of the day traders

It has closed at 7EMA, 5275, for the day and seems to have found some support in that region. There was a sort of intraday double bottom around 5265. So, hopefully, this will act as a support.

The global cues aren't very encouraging with the Europe trading flat to negative and DOW futures firmly in the red. Also, the dollar index made some anemic attempts to go below the 83 mark but failed and is now at 83.42.

INR weakened by 51 paisa against the USD and has closed just shy of Rs. 56 mark (55.92).

At this moment the outlook isn't very encouraging because 7EMA has turned red today, though the other lines in the graph are still uptrending.

India vix is up at 18.72 and today's ATP is way below Friday's ATP. Also, the index traded below its ATP for most of the session, indicating profitbooking/ short selling at higher levels.

The BB are slightly narrower (Range: 5357-5005, Width : 352) and the gap between 7EMA and 20SMA is 94 points.

India vix = 18.72, NF ATP : 5283.97 LTP = 5278.50

 

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Bolllingerbands for Tuesday, 10th July, 2012 : Bears Trapped !!

Yesterday, Nifty made a 5 session low, and today it went on to make new highs . I suppose it will spend next few days consolidating it with minor gains upwards.

At present Europe is trading firmly in the green (around 1%) and DOW futures are green too. Rupee has closed stronger by 41 paisa against the dollar at 55.39.

India vix is down at 17.83 and today's ATP is way above Friday's ATP. Also, the index traded above its ATP for most of the session, showing sustained buying throughout the session.

The BB are slightly wider (Range: 5379-5005, Width : 374) and the gap between 7EMA and 20SMA is 100 points.

India vix = 17.83, NF ATP : 5326.26 LTP = 5356.15

 

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Bolllingerbands for Wednesday, 11th July, 2012 : Pullback again.

A day of consolidation, with support @7EMA. Both the moving averages are green and uptrending and the open mouth is 95 points wide. The bands are slightly wider (Range : 5392-5011, Width : 381).

The global cues are mixed and not giving any directions.

Rupee has ended weaker by 23 paisa against the dollar and India vix is up at 18.39

Today's ATP is higher than yesterday's ATP and 5300 has held on nifty spot. Nifty futures have closed below the ATP.

Tomorrow's direction will surely be decided by Infosys results.

India vix = 18.39, NF ATP : 5331.36 LTP = 5321.75

 

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Bolllingerbands for Thursday, 12th July, 2012 : SL hit !!

Today's candle is fully below 7EMA but above fully above 20SMA. The gap between the moving averages has narrowed down to 70 points. The bands are narrow (Range : 5389-5032; Width : 357). The top of the band seems to have flattened a bit while the bottom is still rising.

The global cues are negative with the Europe trading in the red and the DOW futures in the red too (upto 1%).

INR has closed near Rs. 56 mark (55.92) against USD and the dollar index is at its multi-months high (83.79).

Today's ATP is far below yesterday's but the vix isn't that much high (surprisingly so).

The outlook is bleak for tomorrow but as the chart shows, 20SMA is still green and hasn't been breached yet and may provide support to the index. Further, this is the results season and TCS may come out with decent numbers. IIP data that was released today has received the reaction of "not bad".

Technically, today's candle forms a near perfect doji which signifies indecision / reversal. Let's see what tomorrow brings.

India vix = 18.71, NF ATP : 5255.03 LTP = 5246.80

 

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Bolllingerbands for Friday, 13th July, 2012 : A timepass day, with support at 20SMA.

Again, today's candle is fully below 7EMA but above fully above 20SMA. The gap between the moving averages has narrowed down to 52 points. The bands are narrow (Range : 5390-5040; Width : 350). The top of the band is flattening while the bottom is still rising.

The global cues are negative with the Europe trading in the red and the DOW futures in the red too (upto 1%).

INR has strengthened and closed near Rs. 55 mark (55.11) against USD and the dollar index is at 83.65

I have marked some areas in the chart to show the jerkiness of Nifty's journey downwards, and when the gap between the moving averages went against the trend, but it didn't change the trend. We may be witnessing a similar scenario on the weekly. The good thing is, 7EMA has crossed 20SMA from the bottom and the candle is above both the EMAs. The cautious thing is that 20SMA is still red.

But for the daily, cautious uptrend appears to be intact for now. Maybe Nifty is waiting for the USD to close below 55Rs. before going up

Today's ATP is nearly equal to yesterday's and the LTP is slightly below the ATP. India Vix has reduced somewhat to 18.26

Europe is trading in the green for now (as Nifty was earlier in the day), and DOW futures are green too.

Today's candle is also a doji

India vix = 18.26, NF ATP : 5255.35 LTP = 5240.85

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