Saturday, June 19, 2010
Friday, June 18, 2010
NIFTY EOD Analysis as on 18th June 2010
CMF is showing flat bias compared to yesterday(~) and has almost reached the average level.
Stochastics is showing -ve bias(-) and is falling from OB area.
EMA3 is above above EMA13 (+).
Slope of EMA 13 is up.(+) EMA 13 of at 5150 level
EMA13>EMA39.(+)
Answers for Yesterday
There was confusion today during the bout. Bulls trued to push up the level, but ran out of steam at the resistance level. Bears tried to pull it down, and by the end the close was almost at the mid-point level. Based on today's action, we can say that Bears have a slight advantage over Bulls now as Bulls are facing resistance at 5300 level.
Questions
What's going to happen next? Let's wait and watch.
Thursday, June 17, 2010
NIFTY EOD Analysis as on 17th June 2010
CMF is showing +ve bias compared to yesterday(+).
Stochastics is showing flat bias(~) and is in OB zone kissing the signal line.
EMA3 is above above EMA13 (+).
Slope of EMA 13 is up.(+)
EMA13>EMA39.(+)
Answers for Yesterday
Today, Bulls broke the resistance level at 5230/5240 and closed above it showing that bulls are more powerful than the bears at the moment. Going above NIFTY has some resistances, the next one being at 5300 level and 5400 level.
If we look back in this rally, we can see that the bullish run has extended to 7 continuous days and NOW since the last 3 days volumes have been declining. So, i expect a sideways movement or the rally to subdue a bit.
Questions
What's going to happen next? Let's wait and watch.
Quote of the Day - 17th June 2010
"Our heads are round so that thoughts can change direction."
-Francis Picabia
-Francis Picabia
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