Wednesday, August 18, 2010

Interpreting Stocks : 18th August 2010




NIFTY EOD Analysis as on 18th August 2010


Green Candle showing buying pressure. Volume was good.

EMA3 is above EMA13 (~).
Slope of EMA 13 is flat.(~)  EMA 13 is at 5435 level.
EMA13>EMA39.(+)


Answers for Yesterday
Today's Bearish Signals:
1) Tweezer-top, also it is near the weekly resistance channel.

Bulls jumped in today with force and controlled the price action. Volume was good. Since last 1 month the range has been quite tight and we have again closed on a tweezer-top. Will NIFTY turn down from here?

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