Interpreting Stocks - 11th June 2010

NIFTY EOD Analysis as on 11th June 2010

 Green candlestick with higher volume than yesterday showing buying pressure.
CMF is showing +ve bias compared to yesterday(+).
Stochastics is showing +ve bias(+).
EMA3 is above above EMA13 (+).
Slope of EMA 13 is up.(+)

Answers for Yesterday
NIFTY made higher high and higher low today showing buying pressure. Also, volumes have been increasing on each upmove. Now, NIFTY has reached a resistance level of 5150. If NIFTY breaks this resistance, then it can go upto 5230 level.

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

Part 1 - Important Point from the book Self Discipline in 10 Days by Theodore Bryant

Hyde's five favorite poisons:

1)      Cynicism

2)      Negativism

3)      Defeatism

4)      Escapism

5)      Delayism

v  In using the self-talk technique, you need to state to your subconscious mind exactly what you want to be doing, as if you are actually already doing it.

v  In order to be effective, action-oriented self-talk must be Positive, Specific, and Present Tense.

v  Because we've spent much of our lives being disciplined by others, we seldom develop the necessary skills to discipline ourselves. Again, self-discipline is like a muscle; it needs be developed and exercised in order to be strong, to be available when we need it.