Interpreting Stocks : 13th August 2010

NIFTY EOD Analysis as on 13th August 2010

Green Candle showing buying pressure. Volume was comparitively lower today. Yesterday's Hammer candle rightly acted.

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5433 level.
EMA13>EMA39.(+)

Answers for Yesterday
Today's Bearish Signals:
1) Volume was low on upmove.

Bulls came in today after yesterday's hammer candle. But, volume was less comparitively. Now, NIFTY should break 5500 level to be having a +ve bias.

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

Interpreting Stocks : 12th August 2010

NIFTY EOD Analysis as on 12th August 2010

Hammer Candle is formed today with high volumes in a short term downtrend. Is this a sign of reversal? Let's see.

EMA3 is below EMA13 (-).
Slope of EMA 13 is down.(-)  EMA 13 is at 5429 level.
EMA13>EMA39.(+)

Answers for Yesterday
Today's Bearish Signals:
1) Close was below EMA 13.
2) Volume was high in red candle.
3) EMA 3-13 crossdown.

Again it was a bearish day. Bears tried to pull prices down, but in the end bulls charged in and the close was near open thus forming a hammer like candle with high volumes.

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

Interpreting Stocks : 11th August 2010

NIFTY EOD Analysis as on 11th August 2010

Red Candle showing selling pressure. Volume was high. Close was below EMA 13.(-)

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5432 level.
EMA13>EMA39.(+)


Answers for Yesterday
Today's Bearish Signals:
1) Close was below EMA 13.
2) Volume was high.

Bears in high numbers came into action today. Also, yesterday's tweezer top got confirmation today by today's bearish action. Now, there is a support at 5400 level. If Bears break this level then NIFTY may head lower.

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

Interpreting Stocks : 10th August 2010