SHORT AND LONG TERM VIEW OF NIFTY as of 11/04/2010

SHORT TERM VIEW OF  (NIFTY)
as of 11/04/2010 3:30:00 PM

PRICE AND MOVING AVERAGES :-
NIFTY (6286.25)  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   6,259.854
The relationship between price and moving averages is: neutral in short-term, and neutral in mid-long term.

BOLLINGER BANDS :-
NIFTY  has closed BELOW upper band by 11.4%.
Bollinger Bands are 32.8% wider than normal.
The current width of the bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
Weighted
CURRENT VALUE FOR THE AVARAGE( 9 ) periods is = 6,257.280

The current value for the RSI is   86.723

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 above 70.  This is where it usually tops.  The RSI usually forms tops and bottoms before the underlying security.

 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  9 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 has just reached its highest value in the last 14 period(s).  This is bullish.

DIVERGENCE :-
The RSI and price are not diverging
MACD of  (NIFTY)
as of 11/04/2010 3:30:00 PM

CURRENT STATISTICS

Close: 6,286.250
Change:   13.700
MACD Value:   49.674
Signal Line:   40.978


The MACD can provide buy/sell indications in three ways, signal line crossovers, overbought/oversold conditions, and divergences.


CROSSOVERS :-

Currently the MACD is bullish since it is trading above its signal line.
The MACD crossed above its signal line 27 period(s) ago.
Since the MACD crossed its moving average, NIFTY's price has increased    2.935
And has ranged from a high of 6,290.150 to a low of 6,084.750

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 above minus directional movement index (-DI)
It crossed above 27 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.

Crossover happened more than 3 bars ago, so it is too late to act on this signal.

TREND STRENGTH :-

The ADX is currently   38.496 and rising.
This suggests that the trend is rather strong.

THIS COMMENTARY IS NOT A RECOMMENDATION TO BUY (OR) SELL, USE AT YOUR OWN RISK.

NIFTY 11/04/2010 3:30:00 PM Price: 6286.25\c22  ADX  38.496\c29  +DMI  43.508\c32  -DMI  10.404

LONG-TERM VIEW OF  (NIFTY)
as of 11/04/2010 3:30:00 PM
PRICE AND MOVING AVERAGES :-
NIFTY (6286.25)  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   6,099.766
The relationship between price and moving averages is: neutral in short-term, and neutral in mid-long term.

BOLLINGER BANDS :-
NIFTY  has closed ABOVE the upper band by 19.2%.
Bollinger Bands are 3.5% wider than normal.
The current width of the bands (alone) does not suggest anything conclusive about the future volatility or movement of prices.
Weighted
CURRENT VALUE FOR THE AVARAGE( 9 ) periods is = 6,128.500
RSI > LONG-TERM VIEW OF  (NIFTY)
as of 11/04/2010 3:30:00 PM
The current value for the RSI is   66.890

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 15 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 has just reached its highest value in the last 14 period(s).  This is bullish.

DIVERGENCE :-
The RSI and price are not diverging.
MACD > LONG-TERM VIEW OF  (NIFTY)
as of 11/04/2010 3:30:00 PM

CURRENT STATISTICS

Close: 6,286.250
Change:  119.350
MACD Value:   54.284
Signal Line:   49.729


The MACD can provide buy/sell indications in three ways, signal line crossovers, overbought/oversold conditions, and divergences.


CROSSOVERS :-

Currently the MACD is bullish since it is trading above its signal line.
The MACD crossed above its signal line 0 period(s) ago.
Since the MACD crossed its moving average, NIFTY's price has decreased    0.000
And has ranged from a high of 6,290.150 to a low of 6,199.350

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 > LONG-TERM VIEW OF  (NIFTY)
as of 11/04/2010 3:30:00 PM
ADX DIRECTIONAL MOVEMENT:-

Plus directional movement index line (+DI) is currently above minus directional movement index (-DI)
It crossed above 3 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 long trade (or close already open short 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 6,132.400. Since today's high (6,290.150) is higher than extreme point so the rule is fulfilled and BUY SIGNAL IS CONFIRMED.

TREND STRENGTH :-

The ADX is currently   24.490 and falling.
This suggests that the trend is rather weak or very weak. Important: when trend is weak directional movement system generates signal too frequently and whipsaws can 'eat' all your profits.

THIS COMMENTARY IS NOT A RECOMMENDATION TO BUY (OR) SELL, USE AT YOUR OWN RISK.                  
    NIFTY 11/04/2010 3:30:00 PM Price: 6286.25\c22  ADX  24.490\c29  +DMI  34.207\c32  -DMI  18.631