Monday, March 15, 2010

NIFTY EOD Analysis as on 15th March 2010

Black Spinning-Top Candlestick with small body. Showing Indecision in an uptrend. Found resistance at 5150 level.
Stochastics is -ve bias, and is in overbought area, showing downward slope.
MACD is showing +ve bias.
EMA5>EMA15>EMA50. EMA5 support at 5120. EMA 15 support at 5047.
 
Questions:
Are buyers losing momentum at top? Is the candlestick sign of a reversal? Let's wait and watch.

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