Interpreting Stocks : 30th July 2010

NIFTY EOD Analysis as on 30th July 2010

Red Candle showing selling pressure. Today, it broke the support line and closed below it. The Close was also below EMA13. Negative bias now in days to come.

EMA3 is below EMA13 (-).
Slope of EMA 13 is flat(~).  EMA 13 is at 5390 level.
EMA13

Answers for Yesterday
Today's Bearish Signals:
1) EMA 3-13 crossdown.
2) Close below support zone.
3) Price making lower low and lower high.
4) Stochastic -ve divergence
5) MACD -ve divergence.

NIFTY closed below the support line today. Also, EMA 3-13 crossdown happened. These things convey that we are going to see bearish bias in coming session.

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

Interpreting Stocks : 29th July 2010

NIFTY EOD Analysis as on 29th July 2010

 Green candle with higher volumes than yesterday at the support level showing demand coming in. Will NIFTY pullback from here? Let's see.

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5394 level.
EMA13>EMA39.(+)

Answers for Yesterday
Today's Bearish Signals:
1) Price making lower low and lower high.
2) Stochastic -ve divergence
3) MACD -ve divergence.

NIFTY jumped up a bit today from the support line. Demand comes in at the suppot line. I think we are going to see some sideways movement in next few sessions.

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

Interpreting Stocks : 28th July 2010

NIFTY EOD Analysis as on 28th July 2010

 Red Candle with good volumes showing selling pressure. The Candle pattern looks like Bearish Engulfing. Is this a sign of reversal? Let's see.
The close was also below the pivot pivot line, but closed above the support line. If this support line is broken, then we may see lower levels.

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5391 level.
EMA13>EMA39.(+)

Answers for Yesterday
Today's Bearish Signals:
1) First an evening star kind of pattern was formed 2 days back.
2) Bearish Engulfing today with good volumes.
3) Stochastic -ve divergence
4) MACD -ve divergence.

NIFTY made a bearish engulfing pattern with good volumes today. The close was at the support line. If tomorow NIFTY falls below this line, then we may head downwards.

Questions
Can bears break the support line?
Let's wait and watch.

Interpreting Stocks : 27th July 2010