World Market Analysis as on 24th March 2010

Interpreting Charts - 23rd March 2010

NIFTY EOD Analysis as on 23rd March 2010

 White Spinning-Top Candlestick in an uptrend. Showing indicesion. Tried to break the resistance level at 5235 but couldn't.
Stochastics is -ve bias, and is in overbought area.
MACD is showing flat bias.
EMA5>EMA15>EMA50. EMA5 resistance at 5214. EMA 15 support at 5150.

Answers for Yesterday
NIFTY sustained above 5150.
Questions
Can NIFTY pierce the resistance level at 5235 or will the spinning-top signal a start of a range-bound market betwenn 5150 and 5235? Let's wait and watch.

World Market Analysis as on 22nd March 2010

Interpreting Charts - 22nd March 2010

NIFTY EOD Analysis as on 22nd March 2010

Black Candlestick. Showing selling pressure. Broke the support level at 5235.
Stochastics is -ve bias, and is in overbought area.
MACD is showing flat bias.
EMA5>EMA15>EMA50. EMA5 resistance at 5214. EMA 15 support at 5135.

Answers for Yesterday
NIFTY couldn't stay above 5235 today and closed below that level.
Questions
Can NIFTY sustain above 5150 support level? Let's wait and watch.

Interpreting Charts - 19th March 2010