Wednesday, June 2, 2010

NIFTY EOD Analysis as on 2nd June 2010

Green candlestick with normal volumes showing buying pressure. It traded about the channel line.
CMF is showing +ve bias compared to yesterday(+) showing accumulation.
Stochastics is showing -ve bias(-).
EMA3 is kissing EMA13 (~). EMA3 resistance at 5010(+). EMA 13 resistance at 5010(~).
Slope of EMA 13 is flat.(~) Close was around EMA 13(~)

Answers for Yesterday
A Positive day, but still the range of today was inside yesterday's candle. In my opinon, we will have to cross 5100 and close above it for bullish momentum to continue.

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

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