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 Tuesday (November 10,2009)

Thread Tools Display Modes
Old November 10th 09, 06:01 AM posted to misc.invest.mutual-funds
external usenet poster
Posts: 55
Default Afternoon Newspaper : Daily Market Report for Tuesday (November 10,2009)

NSE India : Afternoon Newspaper : Daily Market Report for Tuesday
(November 10, 2009)

Reversal pattern visible.

By Dominic Rebello

Review of the Previous day: The Nifty rose substantially on Monday
(November 09, 2009) a net 102.25 points (2.13%) and closed at 4898
point level. The market opened up on strong Asian cues and then turned
down and continued so until 11:43 a.m. when it reached its day low at
4789 points. Then it rose until closing near the day high. The market
moved in a range of 115 points. The Nifty has risen for the fourth
consecutive session, confirming a four day reversal pattern. Sentiment
was extremely bullish and amongst the 50 Nifty stocks, 44 were
gainers, while just 06 were losers. Heavy buying was witnessed in
Metal, realty, capital goods, auto, power, oil & gas and technology

Technical Analysis:

Volume: (Qty shares) decreased 12.86%. This change is moderate and
indicates a moderate participation by investors.

Market Breadth: Overall Market Breadth on the NSE was positive.
Amongst all the traded stocks, 1015 were gainers, 279 were losers and
25 remained unchanged.

Slow Stochastic Indicator: The Slow Stochastic Oscillator is in the
neutral zone. The Slow K line in the Stochastic Oscillator is above
the slow D line (positive if it continues).

RSI Indicator: The RSI is above the 40 level and is now rising
(positive if it continues).

MACD Indicator: The MACD is below zero but is rising (positive 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 falling
while the Market Index is rising, which indicates that the present up
trend is decreasing in strength.

Moving Averages (Trend Indicators)

The index:

Is above its 5-day average (at 4746) Positive.

Has risen above its 15-day average (at 4876) Positive.

Is below its 25-day average (at 4944) Negative.

Is above its 200-day average (at 3981) Positive.

Overall Market Strength/Weakness: The indicators and oscillators
discussed here are indicating a strong market 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 = 4865 (This is the level where the trend is likely to
change during intra-day).

Support (1) = 4824.

Support (2) = 4749.

Resistance (1) = 4939.

Resistance (2) = 4980.

*(For support and resistance levels all F&O stocks refer to the

Outlook for Today: On Japanese candlestick patterns the index has
formed a fourth consecutive 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 body of this candle is above and outside the body of the
previous white body candle indicating a range expansion and

Moreover, the index has risen above its 15 day’s moving average. This
is also positive and confirms a reversal pattern. The index is now
above its 5, 15 and 200 day’s moving averages. The velocity parameters
are also positively trended. All these indicate a positive bias and
the possibility of a further up move unfolding.

Investors are advised to hold long positions.

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 Tuesday (November 10,2009) Stratstar.com Stocks & shares 0 November 10th 09 05:57 AM
Afternoon Newspaper : Daily Market Report for Monday (November 09,2009) Stratstar.com Stocks & shares 0 November 9th 09 05:43 AM
Afternoon Newspaper : Daily Market Report for Monday (November 09,2009) Stratstar.com Technical 0 November 9th 09 05:40 AM
Afternoon Newspaper : Daily Market Report for Thursday (November 05,2009) Deepak Options 0 November 5th 09 03:45 AM
Afternoon Newspaper : Daily Market Report for Thursday (November 05,2009) Stratstar.com Technical 0 November 5th 09 03:44 AM

All times are GMT +1. The time now is 12:57 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.