Monday, August 30, 2010

NIFTY EOD Analysis as on 30th August 2010


Small bodied green candlesick with low volumes showing indecision.

EMA3 is below EMA13(-).
Slope of EMA13 is down(-).
EMA 13 is at 5459 level.
EMA13 > EMA39(+).

Today's Bearish Signals:
1) Close was below EMA13.

Answers for Yesterday
It was a tug of war today, which ended in indecision at the end. Volume was also low. Anyways, it looks like Bulls have caught a grip at this level, but needs confirmation.

Questions
What is going to happen next?

Let's wait and watch!

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