Wednesday, June 23, 2010

Interpreting Stocks - 23rd June 2010

NIFTY EOD Analysis as on 23rd June 2010

Green Candle with small upper wick and than the lower wick. Real body was small too. Volume was low today.
CMF is showing +ve bias compared to yesterday(+).
Stochastics is showing -ve bias(-) and is falling from OB area.
EMA3 is above above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 of at 5218 level
EMA13>EMA39.(+)

Answers for Yesterday
In today's tug of war, bears tried to pull the prices down, but found support around 5300 Level. Then, bulls came in and the close was near the day's high. So, as of now the support is acting well. If Global markets also favours upward momentum, then NIFTY will surely go up else, let's see what's in store.

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