World Market Analysis as on 5th May 2010

Interpreting Stocks - 5th May 2010

NIFTY EOD Analysis as on 5th May 2010

 Black candlestick with a long-wick, showing selling pressure. The candle looks like a Hammer in a down trend. Is this a sign of reversal now?
MACD is showing -ve bias.(-)
Stochastics is showing -ve bias and has entered oversold area.(-)
EMA5 is below EMA15 (-). EMA5 resistance at 5190(-). EMA 15 resistance at 5240(-).
Slope of EMA 5 is down(-).

Answers for Yesterday
Hammer like candlestick today. Bears tried to pull NIFTY further down, but in the end bulls came back and the close was near the open. The lower wick looks like twice the size of the real body.

Questions
Can hammer reverse the bearish bias? Let's wait and watch.

World Market Analysis as on 4th May 2010

Interpreting Charts - 4th May 2010

NIFTY EOD as on 4th May 2010

 Black candlestick, showing selling pressure. The Falling three/two methods rightly acted as a continuation pattern and today NIFTY fell down again but closed at the support level of 5150 level.
MACD is showing -ve bias.(-)
Stochastics is showing -ve bias.(-)
EMA5 is below EMA15. (-). EMA5 resistance at 5217(-). EMA 15 resistance at 5250(-).
Slope of EMA 5 is down.(-)

Answers for Yesterday
Bears continued their ride and today NIFTY closed at the support level of 5150.

Questions
What's next in store? Let's wait and watch.

World Market Analysis as on 3rd May 2010