Big Red Candlestick resembling a Bearish Engulfing patern. Volume was below average.
EMA3 is below EMA13(-).
Slope of EMA13 is down(-).
EMA 13 is at 5466 level.
EMA13 > EMA39(+).
Today's Bearish Signals:
1) Close was below EMA13.
2) Bearish Engulfing Candlestick (though volume was below average and also, it has been formed in a downtrend, so not much significance.)
Answers for Yesterday
Bears jumped in today, but the participation among bears was less as can be seen from Volume. NIFTY has closed at a crucial level because the close was at support area and also at EMA39 level.
Volume dried up at this level. Are we going to see upmove from here?
Questions
What is going to happen next?
Let's wait and watch!
