Interpreting Charts - 8th April 2010

NIFTY EOD Analysis as on 8th April 2010

 Bearish-Engulfing Candlestick. Last 4 candlesticks form a variation of evening star pattern. Showing -ve bias. (-)
Stochastics is showing -ve bias and falling below 80% (-)
MACD is showing -ve bias and on the verge of down crossover. (-)
EMA5>EMA15>EMA50. EMA5 resistance at 5325. EMA 15 support at 5270.

 
Answers for Yesterday
Spinning Top rightly called the top and today it was confirmed by a bearish engulfing candlestick
Questions
Can bears pull NIFTY below the 5310 support level? Let's wait and watch.

World Market Analysis as on 7th April 2010