Interpreting Charts - 9th April 2010

NIFTY EOD Analysis as on 9th April 2010

 Bullish White-Opening Marubozo. Showing buying pressure. (+)
Stochastics is showing -ve bias and falling below 80% (-)
MACD is showing -ve bias crossover has occurred. (-)
EMA5>EMA15>EMA50. EMA5 support at 5335. EMA 15 support at 5280.

Answers for Yesterday
Bulls came into action today from the support level and pulled the prices up, showing that bullish are still in force.
Questions
Can bulls continue with their momentum inspite of -ve bias shown in Stochastic and MACD? Let's wait and watch.

World Market Analysis as on 8th April 2010

Interpreting Charts - 8th April 2010

NIFTY EOD Analysis as on 8th April 2010

 Bearish-Engulfing Candlestick. Last 4 candlesticks form a variation of evening star pattern. Showing -ve bias. (-)
Stochastics is showing -ve bias and falling below 80% (-)
MACD is showing -ve bias and on the verge of down crossover. (-)
EMA5>EMA15>EMA50. EMA5 resistance at 5325. EMA 15 support at 5270.

 
Answers for Yesterday
Spinning Top rightly called the top and today it was confirmed by a bearish engulfing candlestick
Questions
Can bears pull NIFTY below the 5310 support level? Let's wait and watch.

World Market Analysis as on 7th April 2010

Interpreting Charts - 7th April 2010