NIFTY EOD Analysis as on 5th August 2010

 Red Candle with almost equal volume as yesterday, showing selling pressure. Also, a tweezer top has been formed at this level.

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5416 level.
EMA13>EMA39.(+)

Answers for Yesterday
Today's Bearish Signals:
1) Red Candle with tweezer top candle pattern. Needs Confirmation.

Bears came into action today matching the steps taken by bulls yesterday. Now we are heading a crucial phase which will show us who the real winner is going to be in this bull-bear battle.

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