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