NSEI breaks below previous session low
NIFTY 50 Index (NSEI) Technical Analysis Report for Jun 14, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (NSEI as at Jun 14, 2018):
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.
Prices are trading close to a key support level at 10770.30.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
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.