Interpreting Stocks : 24th August 2010

NIFTY EOD Analysis as on 24th August 2010

Red Candle showing selling pressure. Volume was average. Price Turned down after yesterday's tweezer-top formation.

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5478 level.
EMA13>EMA39.(+)

Answers for Yesterday
Today's Bearish Signals:
1) Bearish candle after yesterday's tweezer top.

Bears had their day today. Volume was average. After yesterday's tweezer-top, a bearish red candle has been formed. For more downmove it needs confirmation.

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