August 4, 2011

NIFTY Daily Analysis

  • Nifty staying below 5 day low EMA will favor bears.
  • Stochastic is showing oversold readings. But price has not shown any signs of a reversal yet.
  • Candle looks like a spinning top which shows indecision and sometimes leads to reversal of current trend.
  • Price closing below 5400 will strengthen bears.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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