NSEI breaks below previous session low


NIFTY 50 (NSEI) Technical Analysis Report for Jun 14, 2018 [< 1 min read]
Highlights
NSEI breaks below previous session low
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

NSEI ended Thursday at 10808.05 losing INR48.65 (-0.45%). Closing below Wednesday's low at 10842.65, the market confirms its breakout through the prior session's low having traded INR69.10 below it intraday.

Daily chart for NSEI
Volatility

Thursday's trading range was INR60.15 (0.56%), that's far below last trading month's daily average range of INR92.73. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Prices are trading close to a key support level at 10770.30.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying could speed up should prices move above the nearby swing high at 10893.25 where further buy stops might get triggered. Further buying could move prices higher should the market test May's close-by high at 10929.20.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for NIFTY 50
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
White Candle TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bullish Short Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

NSEI pushes through prior session high

Aug 17, 2018
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