Monday, May 31, 2010

Intepreting Stocks - 31st May 2010

NIFTY EOD Analysis as on 31st May 2010

Small bodied green candlestick with small upper shadow and longer lower shadow. The pattern looks like a hanging man, if we take into consideration the brief uptrend. Apply caution for next day.
CMF is showing +ve bias compared to yesterday(+) showing accumulation.
Stochastics is showing +ve bias(+).
EMA3 crosses above EMA13 (+). EMA3 support at 5047(+). EMA 13 support at 5019(+).
Slope of EMA 13 is up.(+) Price is above EMA 13(+)

Answers for Yesterday
Bulls continued their momentum, but the volume was lower than Friday. Made higher high and higher low today.

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