STIXi values for 27-05-2008 and 28-05-2008

Date Open High Low Close Returns since 01-APR-2008

27/05/2008 1084.82 1106.01 1052.77 1066.76 6.67%

28/05/2008 1071.06 1100.56 1047.46 1082.22 8.22%

With F&O expiry happening today, and technical cues being mildly positive, for the day expect a NIFTY close at around 5007 where 20 / 21 / 26 / 34 Day EMAs are present or around 5021-5028 where 50 / 55 / 200 EMAs are clustered.

Cheers

STIXi values for 26-MAY-2008

• Open : 1091.87
• High : 1108.5
• Low : 1057.28
• Close: 1075.34

Returns since 01-APR-2008 :

• STIXi : 7.53%
• Nifty : 2.86%
• CNX500: 3.80%
• CNX100: 3.07%
• SENSEX: 4.62%

STIXi RSI is @ 44.63 (dropping below 50 for the first time since mid APR-08) and ROC(14) is @ -3.93. Small uptick seen in %K in Stochastics (5,3).

STIXi decisively closed below 26EMA, which is @ 1091.57.

iiiii volumes are abysmally low and fell sharply by over 20% over 5day average. But its share of NSE EQ Universe of stocks remains nearly static, both in terms of volume as well as turnover.
Cheers

STIXi values for 22-05-2008 & 23-05-2008

Date Open High Low Close ReturnsSince01-APR-2008
22/05/2008 1131.41 1152.99 1103.71 1123.04 12.30%
23/i05/2008 1127.05 1147.07 1092.75 1103.95 10.39%

Markets extremely weak with latest close below 20Day EMA. RSI @ 53.57 and ROC @ -2.0

Cheers

STIXi values for 21-MAY-2008

Open : 1119.2
High : 1156.33
Low : 1102.22
Close: 1139.5
Prev.Close : 1130.29

Returns since 01-APR-2008

STIXi : 13.95%
NIFTY : 7.98%
CNX500: 9.36%
CNX100: 8.62%
SENSEX: 10.34%

STIXI

5DEMA : 1126.61
9DEMA : 1120.35
12DEMA: 1116.54
20DEMA: 1102.19
RSI : 68.97
ROC : -0.28

Volumes for the day as share of NSE EQ volume is down by 2.6% and turnover down by 3.6% over previous day. On the other hand on 5day average basis, the volume and turnover shot up by 16.2% and 9.74% respectively.

Watch crude. Negative cues all over.

Cheers

STIXi values for 20-MAY-2008 and market review

For 20-MAY-2008

• Open: 1129.41
• High: 1156.91
• Low : 1105.47
• Close : 1130.29
• Prev. Close: 1132.89

STIXi Returns since 01-APR-2008 : 13.02%
Nifty Returns since 01-APR-2008 : 7.71%
CNX 500 Returns since 01-APR-2008 : 8.84%
CNX 100 Returns since 01-APR-2008 : 8.37%
SENSEX Returns since 01-APR-2008 : 10.26%

STIXi

• 5Day EMA 1120.17
• 9Day EMA 1115.57
• 12Day EMA 1112.37
• 20Day EMA 1098.26
• RSI @ 66.77
• ROC @ -0.82

For the day all indices ended negative, including STIXi. However STIXi's fall was confined to 0.23% over previous day whereas most of the other indices had fallen by close to 1%.

STIXi's share of volume of NSE EQ universe of stocks moved up marginally to 55.73% from 55.11% while the share of turnover shot up sharply to 70.95% from 67.72% the previous day.

Compared to five-day averages, STIXi volume fell by 1.19% while turnover was up by 6.15%.

ROC has again turned negative and Stochastics (5,3) has given a "SELL". With global cues being not so great at the moment, further downward momentum is expected in the near term.

Cheers

STIXi values for 16th May 2008 and market review.

• Open: 1125.7
• High: 1151.69
• Low : 1107.39
• Close : 1132.89
• Prev. Close: 1119.22

Returns since 01-APR-2008

STIXi : 13.28%
Nifty : 8.82%
CNX 500 : 9.97%
CNX 100 : 9.55%
SENSEX : 11.57%

STIXi

• 5Day EMA 1115.11
• 9Day EMA 1111.88
• 12Day EMA 1109.11
• 20Day EMA 1094.89
• RSI @ 68.04
• ROC @ 0.58

On a day when the broader market was up significantly, STIXi's share of volume of NSE EQ universe of stocks has gone down marginally by about 1.85% over the previous day while that of turnover went down by 3.56%.

STIXi volume moved up by about 3.5% and while the turnover was static as compared to previous 5 day averages.

ROC has moved into positive territory.

As indicated in the previous post, the market ended positive for the day. Chart patterns since 2nd week of Apr 2008, look like a Bullish flag formation. If so, then in STIXi, the volume breakout trigger appears to have taken place 15th May itself. On the frontline indices, the trigger appears to have taken place today (16th). If indeed it is a bullish flag formation, with the height of the flagpole being about 280-300 points, we might be looking at Nifty levels around 5450 shortly.

Cheers

STIXi values for 15-MAY-2008 and market review

STIXi values for 15-MAY-2008

• Open: 1109.2
• High: 1137.93
• Low : 1090.02
• Close : 1119.22
• Prev. Close: 1100.47

STIXi Returns since 01-APR-2008 : 11.92%
Nifty Returns since 01-APR-2008 : 7.93%
CNX 500 Returns since 01-APR-2008 : 8.95%
CNX 100 Returns since 01-APR-2008 : 8.60%
SENSEX Returns since 01-APR-2008 : 11.05%

STIXi

• 5Day EMA 1106.23
• 9Day EMA 1106.63
• 12Day EMA 1104.78
• 20Day EMA 1090.89
• RSI @ 64.77
• ROC @ -0.49

STIXi's share of volume of NSE EQ universe of stocks has gone up sharply by about 2.5% over the previous day while that of turnover is up by 3.25% and they are at their peak today at 56.96% and 71.28% respectively.

STIXi volume and turnover for the day are more sharply up by 3.5% and 13% respectively over previous 5 day averages.

ROC though is still in negative-to-neutral territory.

The previously indicated probable Head-and-Shoulder pattern on most indices over the past three weeks stands negated with this sharp break-out accompanied by jump in STIXi volumes. Short term trend is up for the broader market, with NIFTY likely to aim for 61.8% retracement of its recent fall - though action may be restricted to front-line or quality stocks, unless fundamental cues such as Inflation Number (due out today) and Crude prices etc spring a surprise.

Cheers

STIXi values for 14-MAY-2008 and market review

STIXi values for 14-MAY-2008

• Open: 1084.1
• High: 1121.56
• Low : 1065.11
• Close : 1100.47
• Prev. Close: 1086.37

STIXi Returns since 01-APR-2008 : 10.04%
Nifty Returns since 01-APR-2008 : 5.74%
CNX 500 Returns since 01-APR-2008 : 6.91%
CNX 100 Returns since 01-APR-2008 : 6.44%
SENSEX Returns since 01-APR-2008 : 8.65%

STIXi

• 5Day EMA 1099.73
• 9Day EMA 1103.49
• 12Day EMA 1102.19
• 20Day EMA 1087.91
• RSI @ 59.49
• ROC @ -0.84

STIXi's share of volume of NSE EQ universe of stocks has gone up by about 1% over the previous day while that of turnover is up by 1.2%. However the broad market upmove has happened with sharply lesser volumes & turnover today. Further STIXi volume and turnover for the day are down 4.04% and 3.08% respectively over previous 5 day averages.

ROC has started turning up again, though still near neutral to negative territory. Stochastics (5,3) and (14,3) still indicating a BUY. STIXi has closed over its 5 day EMA and in the process seems to have reversed from its 20DEMA.

Lack of volumes on a good upmove day makes this move unconvincing.

Cheers

STIXi - values for 13-MAY-2008 and market review

STIXi values for 13-MAY-2008

• Open: 1101.08
• High: 1126.8
• Low : 1071.3
• Close : 1086.37
• Prev. Close: 1089.73

STIXi Returns since 01-APR-2008 : 8.63%
Nifty Returns since 01-APR-2008 : 4.6%
CNX 500 Returns since 01-APR-2008 : 5.87%
CNX 100 Returns since 01-APR-2008 : 5.31%
SENSEX Returns since 01-APR-2008 : 7.21%

For the day, it was a broad-based fall, with only the Midcap centric indices registering gains. Relatively, STIXi has withstood the fall better.

STIXi

• 5Day EMA 1099.36
• 9Day EMA 1104.24
• 12Day EMA 1102.47
• 20Day EMA 1086.59
• RSI @ 54.75
• ROC @ -1.64

STIXi's share of volume of NSE EQ universe of stocks has gone up sharply by 3.6% over the previous day while that of turnover is up by 1%. The broad market fall has happened with large volumes today. STIXi volume and turnover for the day are very sharply up 16.48% and 8.17% respectively over previous 5 day averages, indicating profit booking and anticipation of further fall by seasoned hands.

STIXi has closed just below its 20Day EMA for the first time.

ROC has resumed the falling trend. Yesterday's BUY trigger in Stochastics (5,3) is followed up by today's BUY trigger in Stochastics (14,3). However there are no confirmations from other indicators.

The market (indices) appear to have formed a Head-and-Shoulder pattern over the past 3 weeks. This fall, accompanied by a very large jump in volumes indicates that market is likely to head down further. NIFTY may be headed towards 4780 - 4820 levels.

Cheers

STIXi values for 12-May-2008 and market review

STIXi values for 12-MAY-2008

• Open: 1081.57
• High: 1110.17
• Low : 1045.95
• Close : 1089.73
• Prev. Close: 1091.48

STIXi Returns since 01-APR-2008 : 8.97%
Nifty Returns since 01-APR-2008 : 5.72%
CNX 500 Returns since 01-APR-2008 : 6.52%
CNX 100 Returns since 01-APR-2008 : 6.29%
SENSEX Returns since 01-APR-2008 : 7.90%

For the day, while the large-cap centric indices advanced, rest were either flat or negative, with the BSE SMALLCAP index falling much sharply. STIXi closed marginally down (-0.16%), though the opening was very weak.

STIXi

• 5Day EMA 1105.85
• 9Day EMA 1108.71
• 12Day EMA 1105.39
• 20Day EMA 1086.61
• RSI @ 56.21
• ROC @ -0.33

STIXi's share of volume of NSE EQ universe of stocks has gone down by 1.4% over the previous day while that of turnover is up by 1%. The STIXi volume and turnover for the day are up 1.2% and down 4.8% respectively over previous 5 day averages.

ROC is trying to reverse the falling trend and is presently (near) neutral. Stochastics (5,3) has given a 'BUY' indication. However there are no confirmations from other indicators.

Market may be in a consolidatory mood or may stage a minor pullback for the day. Broad market trend remains negative.

Cheers

Relative performance of STIXi v/s other indices - review

STIXi seems to be holding upto its promise. As evidenced in this chart, it appears pretty balanced and has outperformed most other indices since its inception. And it seems capable of holding the down-side better. It is early days...got to wait and see for few more months and volatile periods in market to evaluate it better.

Cheers

STIXi values for 09MAY2008 and market review

STIXi values for 09-MAY-2008

• Open: 1111.81
• High: 1135.88
• Low : 1076.17
• Close : 1091.48
• Prev. Close: 1119.36

STIXi Returns since 01-APR-2008 : 9.14%
Nifty Returns since 01-APR-2008 : 5.13%
CNX 500 Returns since 01-APR-2008 : 6.46%
CNX 100 Returns since 01-APR-2008 : 5.75%
SENSEX Returns since 01-APR-2008 : 7.11%

For the day, all front-line indices corrected sharply and the recently overheated indices such as Nifty Junior, CNXMidcap50 falling more than the other indices.

STIXi

• 5Day EMA 1113.91
• 9Day EMA 1113.45
• 12Day EMA 1108.24
• 20Day EMA 1086.28
• RSI @ 56.94
• ROC @ -1.05

Today's sharp fall has been accompanied by a 3.75% volume increase on STIXi with turnover down by 2.52%. However, STIXi's share of volume and turnover of NSE EQ universe of stocks have both gone up by nearly 2% over the previous day and stand at 51.33% and 64.59% respectively.

ROC has crossed over to the negative zone. Broader market still indicating a SELL.

Caution adviced in near term.

Cheers

STIXi values for 8th May 2008

STIXi values for 08-MAY-2008

• Open: 1117.57
• High: 1140.78
• Low : 1093.95
• Close : 1119.36
• Prev. Close: 1126.46

STIXi Returns since 01-APR-2008 : 11.93%
Nifty Returns since 01-APR-2008 : 7.22%
CNX 500 Returns since 01-APR-2008 : 8.77%
CNX 100 Returns since 01-APR-2008 : 8.08%
SENSEX Returns since 01-APR-2008 : 9.30%

For the day Nifty Junior index further corrected down sharply. STIXi appears to be outperforming the more popular indices both on the way up as well as down.

STIXi

• 5Day EMA 1125.12
• 9Day EMA 1118.94
• 12Day EMA 1111.29
• 20Day EMA 1085.73
• RSI @ 70.50
• ROC @ 1.68

As anticipated, the corection continued across the market with the advance-decline ratio of NSE EQ universe really sounding. However today's sharper fall has happened with lower volume and lower turnover - both on NSE EQ universe as well as STIXi.

STIXi has closed very close to 9day EMA. Further downside appears possible in the broader market, with STIXi moving towards 1082-1085 levels.

Cheers

STIXi values for 07MAY2008 and market wrap

STIXi values for 06-MAY-2008

• Open: 1129.19
• High: 1154.62
• Low : 1103.79
• Close : 1126.46
• Prev. Close: 1128.2

STIXi Returns since 01-APR-2008 : 12.64%
Nifty Returns since 01-APR-2008 : 8.35%
CNX 500 Returns since 01-APR-2008 : 9.98%
CNX 100 Returns since 01-APR-2008 : 9.40%
SENSEX Returns since 01-APR-2008 : 10.96%
For the day Nifty Junior index corrected down the most.

STIXi

• 5Day EMA 1128.01
• 9Day EMA 1118.84
• 12Day EMA 1109.82
• 20Day EMA 1082.20
• RSI @ 74.70
• ROC @ 2.81

STIXi scrips volume share of NIFTY EQ universe has sharply moved up over previous day by over 10%, alongwith nearly 8% increase in turnover.

While the corection continues, the chart patterns indicate a formation of a rounded top in progress. For two days in a row STIXi has closed below short term moving averages. But it is unclear whether the Sensex holding above near-term support level of around 17200-250 is a false-promise of some up-move still pending or a lull before a sharp down move.

What is clear is that the broad market, specifically those outside the key indices seem to have topped for the time being. A down-move towards 20day averages is the preferred view for the broader market / STIXi.

Cheers

STIXi values for 6th May 2008 and market wrap

STIXi values for 06-MAY-2008

• Open: 1142.99
• High: 1166.94
• Low : 1108.67
• Close : 1128.2
• Prev. Close: 1142.7

STIXi Returns since 01-APR-2008 : 12.82%
Nifty Returns since 01-APR-2008 : 8.55%
CNX 500 Returns since 01-APR-2008 : 10.48%
CNX 100 Returns since 01-APR-2008 : 9.73%
SENSEX Returns since 01-APR-2008 : 11.18%

While returns from NIFTY Junior and NIFTY Midcap50 baskets continue be way ahead of rest at nearly 17% & 16% respectively, for the day they also corrected down the most.

STIXi

• 5Day EMA 1128.79
• 9Day EMA 1116.93
• 12Day EMA 1106.80
• 20Day EMA 1077.54
• RSI @ 75.73
• ROC @ 5.4

There was a sharp drop in STIXi scrips combined Volumes compared to previous five day averages. STIXi scrips volume share of NIFTY EQ universe has sharply fell over previous day by over 10% whereas the share of turnover has remained static.

With the day's corection, the much anticipated fall in the broader market has materialised. Today's direction will be crucial as it will determine the short-term.

Caution still adviced in the broader market. Market may move towards 20day moving averages.

Cheers

STIXi values for 05-MAY-2008

STIXi values for 05-MAY-2008

• Open: 1144.48
• High: 1173.27
• Low : 1120.13
• Close : 1142.7
• Prev. Close: 1139.61

STIXi Returns since 01-APR-2008 : 14.27%
Nifty Returns since 01-APR-2008 : 9.55%
CNX 500 Returns since 01-APR-2008 : 11.80%
CNX 100 Returns since 01-APR-2008 : 10.91%

NIFTY Junior continues to scream ahead, having delivered double the NIFTY returns over same period.

STIXi

• 5 Day EMA 1129.08
• 9 Day EMA 1114.12
• 12Day EMA 1102.90
• 20Day EMA 1072.20
• RSI is @ 84.76

STIXi scrips combined Volumes and turnover were very marginally down compared to previous five day averages. An interesting thing is STIXi scrips volume share of NIFTY EQ universe has sharply fell over previous day by over 10% whereas the share of turnover has slightly gone up.

While STIXi continues to go up, volume has fallen, RSI keeps going up and ROC has been inching down. Further Stochastics (14,3 as well as 5,3) have given SELL triggers. It might be time to take home some money.

Cheers

STIXi values for 02-MAY-2008

STIXi values for 02-MAY-2008

• Open: 1144.89
• High: 1168.85
• Low : 1118.56
• Close : 1139.61
• Prev. Close: 1126.31

STIXi Returns since 01-APR-2008 : 13.96%
Nifty Returns since 01-APR-2008 : 10.31%
CNX 500 Returns since 01-APR-2008 : 12.13%
CNX 100 Returns since 01-APR-2008 : 11.44%
Sensex Returns since 01-APR-2008 : 12.63%

NIFTY Junior is setting a scorching pace, with that index returning 18.61% since 1st Apr 2008, closely followed by CNX Midcap 50 @ 17.29%.

STIXi
5Day EMA 1122.27
9Day EMA 1106.97
12Day EMA 1095.67
20Day EMA 1064.78
RSI is @ 84.39

STIXi scrips combined volumes and turnover were relatively static compared to previous five day averages, but their share of NIFTY EQ universe has inched up.

STIXi RSI continues to indicate a SELL on the broader market. ROC, now at 9.59 for STIXi has been dipping for the past three days.

Cheers

STIXi - Performance review for the month of APR-08

Know ye all!


STIXi has completed its first month of existence as of 30-APR-2008.

So far, it appears to have held its promise - to indicate broader market movement better than NIFTY or SENSEX. Or even CNX 500. And to be a growth index. During April, the front-line indices have decidedly underperformed the broader market, where quite a large number of scrips had given manifold returns than NIFTY / SENSEX / CNX500 returns.

In sheer percentage terms, the outperformance of STIXi over NIFTY has been a solid 40% and over CNX500, the outperfomance has been an impressive 19%

The chart aside should give you an indication of how over the past 10 - 12 trading sessions, post the NIFTY breakout from its resistance levels, STIXi, the broader market index has sharply outperformed its venerated peers.

Further, based on the RSI that has been persisting around 78-84 levels for the past 6 days for STIXi, I believe the broader market may face tough resistance over the next few trading sessions and if the frontline indices / stocks were to correct, it is likely that the broader market may fall more sharply.

STIXi Volume and Value trends

Since inception, STIXi scrips have contributed an average of 48% in volume terms and 64% in value terms of the NIFTY EQ Universe. These levels have been consistently being maintained by the 150 stock STIXi right through APR-08, as can be seen in this chart. As indicated in the overview of STIXi index, the index continues to live upto its key objective of being more broad-based than frontline indices.

Index constituents of STIXi
Two changes were effected on STIXi during APR-08, as routine maintenance of the index.

1. STIXi has been suitably adjusted for corporate action (bonus issue) on one of its constituents CONCOR EQ.
2. Due to the restructuring, on its ex-date SUNDRAM CLAYTON went out of STIXi and on next trading date was replaced with SHANTI GEARS.

Cheers

PS: Post edited on 7th May 2008 to rectify wrong mention of bonus adjustment of GAIL instead of CONCOR.

STIXi values for 30-APR-2008 and Market Review

STIXi values for 30-APR-2008

• Open: 1128.19
• High: 1158.87
• Low : 1104.44
• Close : 1126.31
• Prev. Close: 1124.78

STIXi Returns since 01-APR-2008 : 12.63%
Nifty Returns since 01-APR-2008 : 9.00%
CNX 500 Returns since 01-APR-2008 : 10.6%
CNX 100 Returns since 01-APR-2008 : 9.97%
Sensex Returns since 01-APR-2008 : 11.21%

• STIXi
  - 5Day EMA 1107.24
• - 9Day EMA 1091.94
• - 12Day EMA 1087.68
• - 20Day EMA 1056.91
• - RSI is @ 82.72

STIXi scrips combined Volumes was static compared to previous five day average volume while turnover has risen by 7.6%.

While upward move may continue on the frontline index stocks, caution is advised in near term, as STIXi RSI continues to indicate a SELL on the broader market.

Cheers

PS:
The RSI of past 5 days stands corrected as follows:
23-Apr : 83.70
24-Apr : 77.96
25-Apr : 79.68
28-Apr : 80.47
29-Apr : 82.53
Copy-paste can be harmful. Sadly, Microsoft thinks otherwise :-)