Interpreting Stocks : 14th July 2010

NIFTY EOD Analysis as on 14th July 2010

 Yesterday, it was a tweezer top candle formation. Now, today, we have a red candle with long upper wick and small lower wick. The close was at the tweezer top level. Is this a reversal signal? Let's see
Volume was higher than yesterday, showing that bears are joining in.
MACD is showing +ve bias and moving up as of now. But, it is a lagging indicator, so don't give much weight to it now. Tomorrow is going to be important day for confirmation of bears or bulls.

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5317 level
EMA13>EMA39.(+)

Answers for Yesterday
Todays Bearish Signals:
1. Candle stick with big upper wick and smal lower wick. Formed a tweezer top pattern yesterday.
2. High Volume at top.

NIFTY gave some -ve bias today. Like, after yesterday's tweezer top, today, it couldn't sustain the hgih of the day and the close was almost near the day's low and near the support line. We need confirmation now to see whether bears are realy IN now. A break below the support level will strengthen bearsish side in this tug of war.

Questions
Can bears break below the suport level? Let's wait and watch.

Interpreting Stocks : 13th July 2010

NIFTY EOD Analysis as on 13th July 2010

Green candle which opened above the resistance level and closed above it. Volume was high, showing that new players are joining in the upmove. NIFTY made hgiher high and higher low today, validating the +ve bias.
MACD is also showing +ve bias and moving up.
EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5306 level
EMA13>EMA39.(+)

Answers for Yesterday
Todays Bearish Signals:
1.NIL

NIFTY is showing positive bias now. Volume is suporting the price upmove too.We should head higher in the coming days now.

Questions
What's going to happen next? Let's wait and watch.

Interpreting Stocks : 12th July 2010

NIFTY EOD Analysis as on 12th July 2010

 Today, a green candle is formed with good volumes. The close was above the resistance line. Can it sustain above 5400? Let's see.
MACD is also showing +ve bias and on the verge of giving a buy signal.
EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5290 level
EMA13>EMA39.(+)

Answers for Yesterday
Todays Bearish Signals:
1. There is a small resistance/congestion level at 5400.

NIFTY is showing positive bias. Today also, it tried to break above 5400 level with more than average volumes. The close was above the resistance line. Can it sustain? If Global markets continue to move ahead, NIFTY is sure going to head higher in coming days now.

Questions
What's going to happen next? Let's wait and watch.

Weekly Analysis of Stocks as on 9th July 2010