The NSE All-Share Index and Market Capitalization appreciated by 1.55%
and 1.58% to close the last trading week in November 2017 at 37,944.60 and N13.215
trillion respectively. While the month of November has a 3.45% appreciation in
the index and YtD now stands at 41.19% in the green
Trend Analysis
Monthly
Trend Analysis of the NSE ASI showed a gradual pick in bullish momentum as the
index is currently trending towards key resistance of 38,248 while also trading
above Simple Moving Average 100. The index is
trading above the SMA 100 which indicates a bullish sentiment
Volume
traded in the month was strongly up by 74% relative to previous month of
October, 2017.
Oscillator
indicator –Stochastic RSI currently trading at 78/72 levels
Source: Amibroker - Monthly Chart
Daily Chart
Why is December 2017 important:
For the past 4 Decembers (2013 - 2016) we witnessed the All Share Index appreciate despite the bearish sentiment seen in those years. Year 2017 s a remarkable one as we have thus far seen a bullish trend in the market with the index at 41% positive.
Technically, the 2017 bullish trend is lilekly to continue into the month of December. A strong rally upward is expected.
Why is December 2017 important:
For the past 4 Decembers (2013 - 2016) we witnessed the All Share Index appreciate despite the bearish sentiment seen in those years. Year 2017 s a remarkable one as we have thus far seen a bullish trend in the market with the index at 41% positive.
Technically, the 2017 bullish trend is lilekly to continue into the month of December. A strong rally upward is expected.
No comments:
Post a Comment