Monday, June 28, 2010

Interpreting Stocks - 28th June 2010

NIFTY EOD Analysis as on 28th June 2010

Green candlestick which almost completely overshadowed the previous day's candle, showing bulls REALLY want to break out from this resistance level around 5300. Volume was low today compared to the previous day.
CMF is showing +ve bias compared to yesterday(+).
Stochastics is showing +ve bias(+) and is in OB area.
EMA3 is above above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 of at 5245 level
EMA13>EMA39.(+)

Answers for Yesterday
Bulls want to break free and move higher, but volume is not supporting yet. Unless we see some high volume, bears will always come to haunt the upmove.

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