Interpreting Stocks : 27th July 2010

NIFTY EOD Analysis as on 27th July 2010

 Today a green candle was formed. Volume was higher than last day showing buying pressure. But, NIFTY is making lower highs since the hanging man candle was made 2 trading-days back. NIFTY is lying in support line now. Either it will move up from here and in case bears jump in we might go down.

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5390 level.
EMA13>EMA39.(+)

Answers for Yesterday
Today's Bearish Signals:
1) Last 3 candle formation looks like evening star. Previous candle also looked a bit like Hanging Man.
2) Making Lower lows.

Though the previous 3 candle resembled an evening star pattern, we did not get confirmation that this is actually a reversal. A close below the pivot level and the support line is needed.

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

NIFTY EOD Analysis as on 26th July 2010

Red Candle with lower volume than yesterday showing selling pressure, but with decreased enthusiasm. IF NIFTY breaks this price pivot line, then it may go down further, OR if NIFTY bounces back from here, then it might go up from here. Let's see what's ahead.

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5384 level.
EMA13>EMA39.(+)

Answers for Yesterday
Today's Bearish Signals:
1) Last 3 candle formation looks like evening star. Previous candle also looked a bit like Hanging Man.
2) The close was at the price pivot line.

NIFTY today fell from open to start and the close was at the day's low. The close point was also at the pivot level. The last 3 candles resembles an evening star pattern which is bearish in nature. If NIFTY breaks the pivot line, then we may head downwards in coming sessions.

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

Weekly Analysis of Stocks as on 23rd July 2010

NIFTY and VIX Weekly Analysis as on 23rd July 2010

Interpreting Stocks : 23rd July 2010

NIFTY EOD Analysis as on 23rd July 2010

 Green Candle with small lower shadow and big upper shadow, showing that during the day Bulls were on rampage, but by the end of the day, bears succeeded in pulling the price low and close was below the day's mid point. Volume was higher than yesterday, showing buying pressure.

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5378 level
EMA13>EMA39.(+)

Answers for Yesterday
Today's Bearish Signals:
1) Candle looks a bit like Hanging Man, but we need confirmation to be sure.

NIFTY rightly moved forward today, after making the pivot low 2 days back. Volume also supported the upmove. The candle of today looks a bit like Hanging Man. But, we need confirmation to be sure. So, let see what's in store next.

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