STIXi - values for 23-APR-2008 and Market analysis

STIXi values for 23-APR-2008

• Open: 1107.74
• High: 1135.16
• Low : 1081.06
• Close : 1103.01
• Prev. Close: 1100.9

STIXi Returns since 01-APR-2008 : 10.2966%
Nifty Returns since 01-APR-2008 : 5.9763%
CNX 500 Returns since 01-APR-2008 : 7.5391%
CNX 100 Returns since 01-APR-2008 : 6.8865%
Sensex Returns since 01-APR-2008 : 6.8564%

Nifty Junior (12.67%), Nifty Midcap (10.61%), Nifty Midcap 50 (13.24%) indices have consistently outperformed STIXi over this period.

• STIXi 5Day EMA 1083.91
• 9Day EMA 1064.69
• RSI is @ 83.84

STIXi scrips combined Volumes has marginally inched up with relatively static levels in turnover.

The anticipated minor correction seems to have got triggered today, qualifying more as a running corection. NIFTY is dangerously close to 200Day EMA (@ 5017) support. With the broader market STIXi RSI continuing to inch up, further broad based correction may set in any time. Whether the fibanocci retracement upto 5184 is scaled by NIFTY in the current upmove holds the key to short-to-medium term trend of the market.

By the time this post appears, markets must have opened, possibly with a gap-up. Expect a volatile day today (24-APR-2008)

Cheers