Interpreting Stocks : 30th July 2010

NIFTY EOD Analysis as on 30th July 2010

Red Candle showing selling pressure. Today, it broke the support line and closed below it. The Close was also below EMA13. Negative bias now in days to come.

EMA3 is below EMA13 (-).
Slope of EMA 13 is flat(~).  EMA 13 is at 5390 level.
EMA13

Answers for Yesterday
Today's Bearish Signals:
1) EMA 3-13 crossdown.
2) Close below support zone.
3) Price making lower low and lower high.
4) Stochastic -ve divergence
5) MACD -ve divergence.

NIFTY closed below the support line today. Also, EMA 3-13 crossdown happened. These things convey that we are going to see bearish bias in coming session.

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