Daily Indicators and Averages Analysis Chart:-
Conclusions
1- Averages(EMA-8,21,55,200)- All lower period EMAs are below higher period EMAs and Nifty is trading below all the averages. It is most bearish situation.
2- Bollinger Band- Nifty closed near Lower Band and a bounce back can be expected if market consolidate here.
3- MACD- MACD line intersected downward Average Line and it is down move beginning strong indication.
4- ROC & RSI- Both lines are below equalibrium line and above oversold line. Both are in negative zone without any divergence and RSI is slipping therefore indicating more possibility of down moves.
5- Slow Stochastic & William %R- Both very short term indicators are in oversold zone therefore indicating a bounce back possibility after some more consolidations.
Conclusions (After Putting All Indicators Together)
Indicators are showing more weakness. As very short term indicators are oversold and suggesting bounce back possibility only after some more consolidations.
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1- Averages(EMA-8,21,55,200)- All lower period EMAs are below higher period EMAs and Nifty is trading below all the averages. It is most bearish situation.
2- Bollinger Band- Nifty closed near Lower Band and a bounce back can be expected if market consolidate here.
3- MACD- MACD line intersected downward Average Line and it is down move beginning strong indication.
4- ROC & RSI- Both lines are below equalibrium line and above oversold line. Both are in negative zone without any divergence and RSI is slipping therefore indicating more possibility of down moves.
5- Slow Stochastic & William %R- Both very short term indicators are in oversold zone therefore indicating a bounce back possibility after some more consolidations.
Conclusions (After Putting All Indicators Together)
Indicators are showing more weakness. As very short term indicators are oversold and suggesting bounce back possibility only after some more consolidations.