Wednesday, July 21, 2010
NIFTY EOD Analysis as on 21st July 2010
EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+) EMA 13 is at 5354 level
EMA13>EMA39.(+)
Answers for Yesterday
Todays Bearish Signals:
1) NIFTY is finding it card to cross above 5400 resistance level inspite of +ve global cues today.
2) MACD and Price -ve divergence.
3) MACD on the verge of giving a sell signal.
Volume was low today at the resistance level. Unless and until, 5400 level is broken with good volumes we need to be cautious.
Questions
What is going to happen next? Let's wait and watch.
Market Trends
Market Trends are classified into :
- Secular Trend = A secular market trend is a long-term trend that lasts 5 to 25 years and consists of a series of sequential primary trends.
- Primary Trend = A primary trend has broad support throughout the entire market (most sectors) and lasts for a year or more. Length of these markets generally last from 1 to 3 years in duration.
- Secondary Trend = Secondary trends are short-term changes in price direction within a primary trend. The duration is a few weeks or a few months. This cycle could last as little as two weeks or as long as six to eight weeks.
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