Interpreting Stocks : 29th July 2010

NIFTY EOD Analysis as on 29th July 2010

 Green candle with higher volumes than yesterday at the support level showing demand coming in. Will NIFTY pullback from here? Let's see.

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5394 level.
EMA13>EMA39.(+)

Answers for Yesterday
Today's Bearish Signals:
1) Price making lower low and lower high.
2) Stochastic -ve divergence
3) MACD -ve divergence.

NIFTY jumped up a bit today from the support line. Demand comes in at the suppot line. I think we are going to see some sideways movement in next few sessions.

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