World Market Analysis as on 7th May 2010

Interpreting Stocks - 7th May 2010

NIFTY EOD Analysis as on 7th May 2010

  Black candlestick with lower low than yesterday's low.  NIFTY has been making lower low and lower high, showing that bears are still in force.
MACD is showing -ve bias.(-)
Stochastics %D and %K are kissing each other in the oversold area and showing flat bias.(~)
EMA5 is below EMA15 (-). EMA5 resistance at 5112(-). EMA 15 resistance at 5195(-).
Slope of EMA 5 is down(-).

Answers for YesterdayAnother day for bears.

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

World Market Analysis as on 6th May 2010

Interpreting Stocks - 6th May 2010

NIFTY EOD Analysis as on 6th May 2010

Black candlestick with lower low than yesterday's low. So, the Hammer which was formed yesterday is negated as a reversal signal. Today's candle has a longer lower wick and no upper wick.
MACD is showing -ve bias.(-)
Stochastics is showing -ve bias and has entered oversold area.(-)(~)
EMA5 is below EMA15 (-). EMA5 resistance at 5155(-). EMA 15 resistance at 5218(-).
Slope of EMA 5 is down(-).

Answers for Yesterday
There was no reversal. But, today also a candle with longer lower wick and no upper wick was formed. The candle doesn't look like a hammer, but bulls managed to fight back.

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

World Market Analysis as on 5th May 2010