Tuesday, March 30, 2010
NIFTY EOD Analysis as on 30th March 2010
Stochastics turned is showing -ve bias, and is in overbought area.
MACD is showing flat bias.
EMA5>EMA15>EMA50. EMA5 resistance at 5265. EMA 15 support at 5207.
Answers for Yesterday
NIFTY tried to breakthrough the resistance at 5300 level again, but couldn't sustain and showed selling pressure today. The Spinning-Top rightly called the top. Also, the occurence of spinning top at the resistance level yesterday and a bearish candlestick at the resistance level which failed to breakthrough shows that bulls are weak now.
Questions
Will the downward momentum continue as shown by the bearish candlestick today? Let's wait and watch.
Subscribe to:
Posts (Atom)