Interpreting Stocks : 11th August 2010

NIFTY EOD Analysis as on 11th August 2010

Red Candle showing selling pressure. Volume was high. Close was below EMA 13.(-)

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5432 level.
EMA13>EMA39.(+)


Answers for Yesterday
Today's Bearish Signals:
1) Close was below EMA 13.
2) Volume was high.

Bears in high numbers came into action today. Also, yesterday's tweezer top got confirmation today by today's bearish action. Now, there is a support at 5400 level. If Bears break this level then NIFTY may head lower.

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