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 - 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.