Interpreting Charts - 31st March 2010

NIFTY EOD Analysis as on 31st March 2010

 Black Candlestick with a long upper shadow and small lower shadow. Showing selling pressure, after touching the resistance level again. Found support at 5230 level.
Stochastics is showing -ve bias.
MACD is showing -ve bias and on the verge of cutting the signal line.
EMA5>EMA15>EMA50. EMA5 resistance at 5265. EMA 15 support at 5207.

Answers for Yesterday
NIFTY oscillated between the resistance and support level today and in  the end, bears had the upper hand as they were able to pull down price.
Questions
Will the support level be broken? Let's wait and watch.

World Market Analysis as on 30th March 2010

Interpreting Charts - 30th March 2010

NIFTY EOD Analysis as on 30th March 2010

Black Candlestick. Showing seeling pressure, after touching the resistance level.
Stochastics turned is showing -ve bias, and is in overbought area.
MACD is showing flat bias.
EMA5>EMA15>EMA50. EMA5 resistance at 5265. EMA 15 support at 5207.

Answers for Yesterday
NIFTY tried to breakthrough the resistance at 5300 level again, but couldn't sustain and showed selling pressure today. The Spinning-Top rightly called the top. Also, the occurence of spinning top at the resistance level yesterday and a bearish candlestick at the resistance level which failed to breakthrough shows that bulls are weak now.
Questions
Will the downward momentum continue as shown by the bearish candlestick today? Let's wait and watch.

World Market Analysis as on 29th March 2010

Interpreting Charts - 29th March 2010