Friday, May 28, 2010

NIFTY EOD Analysis as on 28th May 2010

Green candlestick which made higher high and higher low showing buying pressure. Volume was good, but lower than yesterday.
CMF is showing +ve bias compared to yesterday(+) showing accumulation.
Stochastics is showing +ve bias(+).
EMA3 is kissing EMA13 (~). EMA3 support at 5000(+). EMA 13 support at 5000(+).
Slope of EMA 13 is flat.(~) Price is above EMA 13(+)

Answers for Yesterday
Bulls rightly marched past the flag showing +ve bias. Also, the close was above EMA 3,13 showing more bullishness among the crowd.

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

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