A Investment forum. InvestmentBanter

If this is your first visit, be sure to check out the FAQ by clicking the link above. You may have to register before you can post: click the register link above to proceed. To start viewing messages, select the forum that you want to visit from the selection below.

Go Back   Home » InvestmentBanter forum » Investment newsgroups » Mutual funds
Site Map Home Register Authors List Search Today's Posts Mark Forums Read Web Partners

Afternoon Newspaper : Daily Market Report for Thursday (November 05,2009)



 
 
Thread Tools Display Modes
  #1  
Old November 5th 09, 04:55 AM posted to misc.invest.mutual-funds
Deepak Sahijwala Deepak Sahijwala is offline
Banned
 
First recorded activity by InvestmentBanter: Jan 2007
Posts: 35
Default Afternoon Newspaper : Daily Market Report for Thursday (November 05,2009)

Afternoon Newspaper

Nifty Recovers on Global cues, Short covering…

By Dominic Rebello

Review of the Previous day: The Nifty rose substantially on Wednesday
(November 04, 2009) a net 146.90 points (3.22%) and closed at 4710
point level. The market opened up and continued so throughout the day
until closing near the day high. The rise yesterday was fuelled by
positive global cues, short covering and Institutional buying.
Sentiment was extremely bullish and amongst the 50 Nifty stocks, 45
were gainers, while just 5 were losers. All the sectoral indices
closed in the green. Heavy buying was witnessed in Realty, Metal, IT,
Oil & Gas, Bank, Auto, Healthcare, FMCG and Power stocks.

Technical Analysis:

Volume: (Qty shares) decreased 5.11%. This change is small and
indicates a moderate participation by investors.

Market Breadth: Overall Market Breadth on the NSE was positive.
Amongst all the traded stocks, 967 were gainers, 310 were losers and
25 remained unchanged.

Slow Stochastic Indicator: The Slow Stochastic Oscillator is in the
over-sold zone. The Slow K line in the Stochastic Oscillator has risen
above the slow D line (positive buy signal).

RSI Indicator: The RSI rose and crossed above the 30 level and is now
rising (positive if it continues).

MACD Indicator: The MACD is below zero and is declining (negative if
it continues). It is below its 9-day Average (negative).

ADX Indicator & DI Lines: The +DI line is below the –DI line but both
lines are converging (positive if it continues). The ADX is rising
while the Market Index is rising, which indicates that the present up
trend is increasing in strength.

Moving Averages (Trend Indicators)

The index:

Is below its 5-day average (at 4712) Negative.

Is below its 15-day average (at 4937) Negative.

Is below its 25-day average (at 4968) Negative.

Is above its 200-day average (at 3952) Positive.

Overall Market Strength/Weakness: The indicators and oscillators
discussed here are indicating a neutral market but with a positive
bias.

Support Levels:For short-term traders the immediate main support is at
4394 marked as S1 (blue line below the Index).

Resistance Levels: The immediate main resistance is at 5193 marked as
R1 (red line above the Index).The next resistance is at 5580 marked as
R2 (red line above the Index).

Pivot Point Analysis:For intra-day traders the support and resistance
levels are calculated according to the pivot point theory and a

Pivot point = 4665 (This is the level where the trend is likely to
change during intra-day).

Support (1) = 4611.

Support (2) = 4512.

Resistance (1) = 4764.

Resistance (2) = 4817.

(For support and resistance levels all F&O stocks refer to the
Afternoon
newspaper) .

Outlook for Today: On Japanese candlestick patterns the index after
having formed a long black body candle has formed a long white body
candle. In fact, yesterday's candle is almost like a white body
Marubozu candle. (A White Marubozu forms when the open equals the low
and the close equals the high). Further, the velocity parameters,
which were negatively trended, have now turned neutral. Both these
indicate a positive bias.

However, the index is below its 5, 15 and 25 day’s moving averages and
all the three averages are negatively trended and also declining. This
is negative. As such these are mixed signals.
Investors are advised to adopt a wait and watch policy, until a clear
reversal signal is visible.

Work with strict stop losses on all positions.
 




Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Afternoon Newspaper : Daily Market Report for Thursday (November 05,2009) Genius Trader Stocks & shares 0 November 5th 09 03:49 AM
Afternoon Newspaper : Daily Market Report for Wednesday (Nov 4, 2009) Genius Trader Stocks & shares 1 November 4th 09 07:25 AM
Afternoon Newspaper : Daily Market Report for Wednesday (Nov 4, 2009) Stratstar.com Futures 0 November 4th 09 03:40 AM
Afternoon Newspaper : Daily Market Report for Wednesday (Nov 4, 2009) Deepak Options 0 November 4th 09 03:26 AM
*** The Pattern Trapper Bi-Weekly Report for Thursday, November 20, 2003*** The Pattern Trapper Stocks & shares 0 November 20th 03 01:53 AM


All times are GMT +1. The time now is 12:30 PM.


Powered by vBulletin® Version 3.6.4
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
Copyright ©2004-2019 InvestmentBanter.
The comments are property of their posters.