Wednesday, May 7, 2008

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

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