Nifty chart: a midweek technical update (Dec 12, 2018)


how to do bitcoin trading

FIIs were net buyers of equity on Mon. (Dec 10) but net sellers on Tue. & Wed. (Dec 11 & 12). Their total net selling was worth Rs 36.0 Billion. DIIs were net sellers on Mon. but net buyers on Tue. & Wed. Their total net buying was worth Rs 32.3 Billion, as per provisional figures.

CPI inflation for Nov ’18 has fallen to a 16 month low of 2.33% from 3.31% in Oct ’18 – thanks to lower food and fuel prices.

IIP for Oct ’18 surged to an 11 months high of 8.1% from 4.5% in Sep ’18 – boosted by infrastructure projects. During Apr-Oct ’18, IIP grew 5.6% compared to 2.5% during Apr-Oct ’17.


The following remarks were made in last week’s technical update on the daily bar chart pattern of Nifty: Note that all three EMAs have converged together…A sharp move is likely to follow…Odds favour a down move.”

The expected down move started on Thu. Dec 6. The index opened trading with a 30 points downward ‘gap’ and dropped sharply below its three EMAs to close 180 points lower.

Nifty pulled back to the three converging EMAs on Fri. but bears used the pullback to sell. The index opened with another downward ‘gap’ of 40 points on Mon. Dec 10, and closed 205 points lower.

The index plummeted to an intra-day low of 10334 from the initial shock of announcement of state election results on Tue. Dec 11 morning. Short covering and some value buying ensured that the index closed 60 points higher for the day.

Formation of a ‘reversal day’ bar (lower low, higher close) with decent volume support enthused bulls further. The index climbed above its three EMAs and closed back in bull territory today. Note that the index stopped short of the downward ‘GAP’ (of Oct 4).

Daily technical indicators are turning bullish. MACD is below its falling signal line in bullish zone, but it has stopped falling. RSI has moved above its 50% level. Slow stochastic has bounced up a bit after almost falling to its oversold zone. 

Nifty’s TTM P/E is at 25.98, which is much higher than its long-term average in overbought zone. The breadth indicator NSE TRIN (not shown) has dropped from its oversold zone – hinting at some near-term upside.

Oil prices have started recovering. The Rupee is falling against the US Dollar once again. On cue, FIIs have started selling heavily again. 

Bulls have been fighting hard to prevent the ‘death cross’ of the 50 day EMA below the 200 day EMA, but they may be fighting a losing battle. Expect bears to reassert themselves soon.

news forex trading

forex no deposit bonus

Leave a Reply

Your Name (required)

Your Email (required)


Your Message

BonusMin. DepositMax. ReturnsRating
ayrex$10,000$20090%Rating Ayrex Options Review
$10,000$581%broker Rating Freestyle Review
Finmax$10,000$20090% FiNMAX Review
StockPair$20,000$585%broker Rating Falcon Finance Review
24optionUnlimited$25089%Top Binary Options Brokers Rating 24option Review

To invest with binary options you will work with an investment broker who is licensed to work in this field. Working with your broker, you will identify which asset you want to buy an option on, how much you want to invest and when the option will expire. Once the option is placed, you simply watch the trading activity on that asset to see if your prediction was accurate or not.

Binary options are one of the most popular trading choices for investors today, due in large part to their simplicity and the fact that you always know all the risks and payoffs ahead of time.

  • regulated: we promote only regulated brokers whose business models and marketing practices are checked by relevant government authorities.
  • special features: here we list all the important features that a broker offers. These are usually listed as perks offered trough various account types which bring different levels of service, depending on the minimum funds deposited
  • bonuses: almost every Top Binary Options Brokers offers these rewards that increase trading potential. Fair Binary Options also lists terms and conditions that come with the bonus money so traders always know how will these affect their trading efficiency.
  • the best binary trading platforms reviewed: we review the software that makes trading possible. There are several big providers, such as SpotOption, TechFinancials, Tradologic, MarketsPuls… Every software has some special characteristics, and not every software is suited for every trader
  • assets: Fair Binary Options review provides basic info on the amount of assets available for trading
  • customer support: we chat with the customer support to test how the broker has set up the help desk that should support traders. This is the best way to assess the service.
  • payments: we list all the payment options available by the Top Binary Options Brokers, list minimum deposit requirement
  • withdrawals: we warn traders if withdrawal requirements are too high, or if it takes a long time to get the money back.
    • Keras - self-learning NEURAL networks for
      Stock market forecasting
      Get it FREE








      *number of participants is limited

      Customer Testimonials

      Fellas what broker is legit in States ? binary options binary options broker USA?
      FrankyP