Daily Indicators and Averages Analysis Chart:-
1-Averages- Most shorter term averages are below longer term averages and Nifty is below all. It is showing complete weakness therefore suggesting minimum relief rally.
2-Bollinger Band- Lower band is sliding steeply with the fall of Nifty value.All upper,middle and lower are moving downward therefore confirming complete weakness and signalling minimum relief rally to recover from oversold situation.
3- MACD- Both lines are sliding in oversold zone and MACD line is below Average line. No positive divergence but both lines are in deep oversold area therefore indicating minimum small upmoves possibilities.
4-ROC- Positive divergence in oversold zone and moved up last Friday therefore suggesting upmoves possibilities
5-RSI- No divergence in oversold zone and moved up last Friday therefore suggesting upmoves possibilities
6-Slow Stochastic- Very short term indicator and not habitual to live much time in oversold zone but stayed for the last 25 sessions and signalling rally possibility any time
7-William %R- Very short term indicator and not habitual to live much time in oversold zone but stayed for the last 25 sessions and signalling rally possibility any time
conclusion from Daily Indicators and Averages Analysis
Completely oversold Indicators are showing minimum a pull back rally rally or bounce back possibility. Expected that up moves will be seen in Indian markets for indicators recovering from oversold zones.
1-Averages- Most shorter term averages are below longer term averages and Nifty is below all. It is showing complete weakness therefore suggesting minimum relief rally.
2-Bollinger Band- Lower band is sliding steeply with the fall of Nifty value.All upper,middle and lower are moving downward therefore confirming complete weakness and signalling minimum relief rally to recover from oversold situation.
3- MACD- Both lines are sliding in oversold zone and MACD line is below Average line. No positive divergence but both lines are in deep oversold area therefore indicating minimum small upmoves possibilities.
4-ROC- Positive divergence in oversold zone and moved up last Friday therefore suggesting upmoves possibilities
5-RSI- No divergence in oversold zone and moved up last Friday therefore suggesting upmoves possibilities
6-Slow Stochastic- Very short term indicator and not habitual to live much time in oversold zone but stayed for the last 25 sessions and signalling rally possibility any time
7-William %R- Very short term indicator and not habitual to live much time in oversold zone but stayed for the last 25 sessions and signalling rally possibility any time
conclusion from Daily Indicators and Averages Analysis
Completely oversold Indicators are showing minimum a pull back rally rally or bounce back possibility. Expected that up moves will be seen in Indian markets for indicators recovering from oversold zones.