Long Black Candlestick. No signal from candle pattern today. Stochastics is moving down and today it is at 20%. Moving Average 5,15,50 is bearish.
Resistance at 4780-->4830-->4890-->4950 for tomorrow. Support at 4690-->4600-->4540
Friday, February 5, 2010
NIFTY EOD Analysis for 5th Feb 2010
Long Black Candlestick. No signal from candle pattern today. Stochastics is moving down and today it is at 20%. Moving Average 5,15,50 is bearish.
Resistance at 4780-->4830-->4890-->4950 for tomorrow. Support at 4690-->4600-->4540
World Markets analysis as on 4th Feb 2010
Candlestick was a big red candle with no upper wick and very small lower wick. It broke the trendline too. Volume was also higher and Stochastics is showing -ve bias now. Overall outlook is bearish now.
Resistance - 10,300-->10,400
Support - 10,000-->9800
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