Interpreting Stocks - 25th June 2010

NIFTY EOD Analysis as on 25th June 2010

A big red candle which broke the support level around 5300 level and closed below it. But, volume was low on the breakdown today. So, we need confirmation to validate this as a true breakdown.
CMF is showing -ve bias compared to yesterday(-).
Stochastics is showing -ve bias(-).
EMA3 is above above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 of at 5238 level
EMA13>EMA39.(+)

Answers for Yesterday
Today's candle broke yesterday's Doji like candle's low and closed below the support level but with lower volumes. IF the breakdown was with high volumes then this could have been a trend reversal. Today's big red candle wiped out the gains during this week.
If the next candle supports the breakdown, then we may see a correction happening now.

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

Interpreting Stocks - 24th June 2010

NIFTY EOD Analysis as on 24th June 2010

A Doji like candle. Volume was high today. Today also, it found support at 5300 level and closed above it.
CMF is showing -ve bias compared to yesterday(~).
Stochastics is showing -ve bias(-) and is falling from OB area.
EMA3 is above above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 of at 5233 level
EMA13>EMA39.(+)

Answers for Yesterday
Today, it was an indecisive day and the close and open was almost same. In an uptrend, a Doji like candle above a support line has been formed now. Could this be a reversal signal? We have to wait and watch for that. I won't give this Doji like candle much points because it need to break the crucial support at 5300 level. It could be a top-reversal IF we see a candle which breaks the cupport at 5300 level. Otherwise, we are in bullish mode, but apply caution, until the high of the Doji is broken.

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

Interpreting Stocks - 23rd June 2010

NIFTY EOD Analysis as on 23rd June 2010

Green Candle with small upper wick and than the lower wick. Real body was small too. Volume was low today.
CMF is showing +ve bias compared to yesterday(+).
Stochastics is showing -ve bias(-) and is falling from OB area.
EMA3 is above above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 of at 5218 level
EMA13>EMA39.(+)

Answers for Yesterday
In today's tug of war, bears tried to pull the prices down, but found support around 5300 Level. Then, bulls came in and the close was near the day's high. So, as of now the support is acting well. If Global markets also favours upward momentum, then NIFTY will surely go up else, let's see what's in store.

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

Interpreting Stocks - 22nd June 2010