Interpreting Stocks - 1st July 2010

NIFTY EOD Analysis as on 1st July 2010

   Red Candle negated yesterday's piercing pattern candlestick. The resistance at 5300 is proving very strong resistance to break. Volume was comparitively low today.
CMF is showing -ve bias compared to yesterday(~).
ADX is flat showing that still it is not clear who is having a upper hand- the bulls or bears?
EMA3 is above above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 of at 5259 level
EMA13>EMA39.(+)

Answers for Yesterday
Bears charged in today and pulled NIFTY down from the resistance level. Though, volume was low, now it looks like bears are more in command because of :
1. Bulls unable to break above the resistance level at 5300
2. MACD on the verge of giving breakdown signal.

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

Quote of the Day – 30th June 2010

"If you are hunting elephants you should not turn off the trail for a rabbit." - Anonymous 

Posted via email from trading-odyssey's posterous

Interpreting Stocks - 30th June 2010

NIFTY EOD Analysis as on 30th June 2010

 Green Candle, kind of piercing bottom candle in a short downtrend from 22nd June 2010.Volume was comparatively high today than previous 4 days.
CMF is showing +ve bias compared to yesterday(+).
ADX is flat showing that still it is not clear who is having a upper hand- the bulls or bears?
EMA3 is above above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 of at 5260 level
EMA13>EMA39.(+)

Answers for Yesterday
Bulls charged in and closed above the mid point of yesterday's candle. Is this an indication that bulls will push the NIFTY higher in day's to come?
If we go buy candlestick pattern, we should see some upmove. Also, today's volume is also supporting it.
So, we should see some +ve bias now.

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

Interpreting Stocks - 29th June 2010

NIFTY EOD Analysis as on 29th June 2010

Big red candle with no upper wick. Found support at 5230 level support line. Volume was higher than yesterday.
CMF is showing -ve bias compared to yesterday(~).
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 5250 level
EMA13>EMA39.(+)

Answers for Yesterday
Bears came in charging today and it was all bears day today. The close was below the level of 5300. So, the congestion at 5300 level is proving to be vital. Today's close was near the support level of 5230 level and the EMA 13 level. Now, either we will see the break of support at this point and then it will be a correction or we are going to see some sideways movement now.

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