Interpreting Stocks : 7th July 2010

NIFTY EOD Analysis as on 7th July 2010

Today, a big red candlestick is formed with slightly higher volume than yesterday, but overall the volume has been low.
MACD is showing that the market is weak and probably will head lower.
All depends on global cues as of now.
EMA3 is below EMA13 (~).
Slope of EMA 13 is flat.(~)  EMA 13 is at 5256 level
EMA13>EMA39.(+)

Answers for Yesterday
Todays Signals:
1. Price again fell back today due to selling pressure in the global market.
2. MACD has given crossdown signal and falling.
Market looks weak unless and until it breaks 5300 level with good volumes. For now, if bears have their way, immediate support is seen at 5180 level.

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

Price, Volume, Open-Interest Interpretation

Posted via email from trading-odyssey's posterous

Interpreting Stocks : 6th July 2010

NIFTY EOD Analysis as on 6th July 2010

 Today, a big green candlestick is formed, which found resistance at 5300 level. Volume was low today. For upmove, NIFTY has to break this resistance level with good volume.
MACD is showing that the market is weak and probably will head lower from here unless and until it breaks the resistance level with good voumes.
EMA3 is above EMA13 (~).
Slope of EMA 13 is flat.(~)  EMA 13 of at 5258 level
EMA13>EMA39.(+)

Answers for Yesterday
Todays Signals:
1. Price did not cross the resistance level.
2. MACD has given crossdown signal and falling.
3. Volume has been low on upmove.
Market looks weak unless and until it breaks 5300 level with good volumes.

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

Interpreting Stocks : 5th July 2010

NIFTY EOD Analysis as on 5th July 2010

 Today, a Doji candle has been formed. The open and close was almost at the same level. Volume was low today. Indecision prevailing in the market.
CMF is showing -ve bias compared to yesterday(-).
EMA3 is below EMA13 (-). Crossdown today.
Slope of EMA 13 is down.(-)  EMA 13 of at 5253 level
EMA13>EMA39.(+)

Answers for Yesterday
Todays Signals:
1. Price making lower high.
2. Close was below EMA 13 today.
3. MACD has given crossdown signal and falling.
4. Doji candle formed showing indecision.
In my opinion, according to the charts and taking into account the global scenario, we should see -ve bias till NIFTY touches 5180 level.
After that, let's see what's in store ahead.

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