NIFTY EOD Analysis as on 16th July 2010

 Today also the twezeer top acted as a resistance. We had a green candle today, with good volumes, showing buying pressure.

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5335 level
EMA13>EMA39.(+)

Answers for Yesterday
Todays Bearish Signals:
1.Again found resistance at the tweezer-top formed.

NIFTY had a green day today and more buyers joined in. Last 3-4 days has been in a realy tight range. On the downside, it is finding support at the support level and supply reduces there. On the upside, the tweezer top is acting as resistance. We should see a break from here on either side.

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

Interpreting Stocks : 15th July 2010

NIFTY EOD Analysis as on 15th July 2010

 Today, also the twezeer top acted as a resistance. Yesterday's candle looks a bit like shooting star in an uptrend. Now, we need to close below the support level at 5360 level for reversal.
Volume was lower than yesterday. Supply is reducing at support?
Stochastics is showing -ve bias.

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5326 level
EMA13>EMA39.(+)

Answers for Yesterday
Todays Bearish Signals:
1. Lower high and lower low candle after yesterday's shooting star like candle.

Now, the supply is reducing as NIFTY is approaching the support level. After yesterday's shooting star like candle, bears should have jumped in the wagon, but today the bearish interest was less and it couldn't break the support level. Anyways, we need to be cautious and see whether bears can support the formation of spinning top candle with another bearish confirmation and also break the support level. Otherwise, we are going to see higher levels now.

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

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.