Monday, May 17, 2010

NIFTY EOD Analysis as on 17th May 2010

Red candlestick with long tail showing selling pressure.
CMF is rising because the close was way above the day's low showing accumulation at higher levels.(+)
Stochastics is showing -ve bias.(-)
EMA5 is below EMA15 (-). EMA5 resistance at 5108(-). EMA 15 resistance at 5160(-).
Slope of EMA 5 is down.(-)

Answers for Yesterday

Bears again was in action today, but bulls came back and pulled the prices up. So the day created a long tail. CMF is moving up.

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

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