Red Candle showing selling pressure. The Price closed belowEMA 13.(-)Volume was low today compared to yesterday.
CMF is showing -ve bias compared to yesterday(-).
EMA3 is above above EMA13 (+).
Slope of EMA 13 is flat.(~) EMA 13 of at 5256 level
EMA13>EMA39.(+)
Answers for Yesterday
Bears had their day today. As each day passes by more bearish sentiments are showing up. As of today the following are the indications of a sell-off in the coming days:
1. Price making lower high.
2. Close was below EMA 13 today.
3. MACD has given crossdown signal.
In my opinion, we should see -ve bias till NIFTY touches 5180 level.
After that, let's see what's in store ahead.
Questions
What's going to happen next? Let's wait and watch.
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