PRICE AND MOVING AVERAGES :-
NIFTY (6011.65) has closed above its Short time moving average.
Short time moving average is currently below mid-time, AND below long time moving averages, and STOPLOSS 6,058.781
The relationship between price and moving averages is: neutral in short-term, and neutral in mid-long term.
BOLLINGER BANDS :-
NIFTY has closed above bottom band by 25.8%.
Bollinger Bands are 8.1% narrower than normal.
The current width of the bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
CURRENT VALUE FOR THE AVARAGE( 9 ) periods is = 6,037.249
The current value for the RSI15 is 50.367
The RSI, written by J. Welles Wilder in 1978, can be used in several different ways to analyze a chart.
Tops and Bottoms:
The RSI is not currently in a topping (above 70) or bottoming (below 30) range.
BUY/SELL SIGNALS :-
A buy or sell signal is generated when the RSI moves out of an overbought/oversold area.
The last signal was a SELL 11 period(s) ago.
CHART FORMATIONS :-
The RSI often forms chart patterns (such as head and shoulders or rising wedges) and support/resistance levels that may or may not be visible on the price chart. Since the analysis of chart patterns/formations is subjective, the automatic interpretator cannot find them. Please visually inspect the chart and look for such patterns.
Failure Swings (also known as support or resistance penetrations or breakouts):The RSI does not currently show any Failure Swings.
The RSI and price are not diverging.
Review of (NIFTY)
as of 10/29/2010 3:31:00 PM
MACD Value: 30.126
Signal Line: 58.774
The MACD can provide buy/sell indications in three ways, signal line crossovers, overbought/oversold conditions, and divergences.
Currently the MACD IS BERAISH since it is trading below its signal line.
The MACD crossed below its signal line 15 period(s) ago.
Since the MACD crossed its moving average, NIFTY's price has decreased -1.548
And has ranged from a high of 6,284.100 to a low of 5,937.100
OVER BOUGHT/OVERSOLD :-
The MACD is not in an Overbought/Oversold range.
MACD DIVERGENCE :-
There have been no divergence signals within the last 5 periods.
ADX DIRECTIONAL MOVEMENT:-
Plus directional movement index line (+DI) is currently below minus directional movement index (-DI)
It crossed below 1 bars ago.
Welles Wilder (the author of Directional Movement indicator) suggests buying when the +DI rises above the -DI and selling when the +DI falls below the -DI.
Since the crossover happened just recently, this may be a good opportunity to enter short trade (or close already open long trade (if any)
Wilder, however, suggest to qualify simple +DI/-DI crossover with 'extreme point rule'. When the +DI rises above the -DI, the extreme price is the high price on the day the lines cross. When the +DI falls below the -DI, the extreme price is the low price on the day the lines cross. The extreme point is then used as a trigger point at which you should implement the trade.
Current extreme point value is 5,968.100. Since today's low (5,937.100) is lower than extreme point so the rule is fulfilled and SELL SIGNAL IS CONFIRMED.
TREND STRENGTH :-
The ADX is currently 27.169 and falling.
This suggests that the trend is medium in its strength.
THIS COMMENTARY IS NOT A RECOMMENDATION TO BUY (OR) SELL, USE AT YOUR OWN RISK
.NIFTY 10/29/2010 3:31:00 PM Price: 6011.65\c22 ADX 27.169\c29 +DMI 21.492\c32 -DMI 24.919