Loading...
Monday, 5 August 2013

STOCK MARKETS CONSOLIDATE

Review http://investing-trading.blogspot.com/ on alexa.com

stock market today


                   Stock market opened today above the closing prices of Friday and at 11.am Stock market touched a high but were unable to sustain the gains made by them and fell, from there on and they were swinging in positive and negative territory. And today Stock market were under the influence of NSEL episode as there were payment concerns and BHEL stock due to weak Quarterly results fell a lot touching a 52 week low today and having an overall impact on capital good index and we can expect the Stock market to consolidate at these levels before taking any future direction.

Dollar to rupee

          Dollar to rupee opened at the closing price of Friday and went on to gain and touched a high point of 60.8. But afternoon the dollar to rupee lost a little ,but was there for most part of the day and finally closed at 60.88.and these level is resistance for dollar to rupee to make any further gains , mostly dollar to rupee will be volatile going forward.

                                                 

 Nifty Candlestick Chart

Nifty has formed a doji formation today clearly telling there is a dilemma between sellers and buyers to decide which direction Nifty will be taking. First support will be at 5850 if this breaks next support will come at 5800 and resistance is at 5750 and closing above or below these levels will tell which direction Nifty will take.


Bank Nifty has been consolidating for the past four days and the range being 9800 and 10200 and after more than 7 trading session today closing has been above opening price telling that Bank Nifty will try to make recovery from this point ,but for Bank Nifty to make meaningful recovery  has to close above 10600 mark.

CNX IT Index has been outperforming consistently when compared to other indices and this will remain like this until rupee makes a recovery.

CNX Metal index has  formed a bullish counter attack pattern but based on this we cannot expect the index to make any recovery and there is no support as it is near its 52 week lows and resistance will come at 1700.

CNX Energy Index has formed a bullish harami pattern today and this will try to consolidate at these levels and 7500 is a strong support and 7700 is the resistance.


CNX Mid-cap Index has formed a doji formation and all supports levels are   broken and resistance is at 6850 and any closing above 6800 can be taken as positive signal.


CNX Small Cap index seem to stabilise at these point and support is at 2550 and resistance is at 2650.



Enhanced by Zemanta

0 comments :

Post a Comment

Please Drop Your feedback

 
TOP