Nifty-Averages and Very short term Indicators of Daily Chart(20-05-2011):-
Nifty is sustaining below 50 and 200 DaY EMA(5616) for the last 14 sessions therefore long term trend is down, both average lines are kissing and 50 DaY EMA downward crossing 200 DaY EMA will be more down moves confirmations.
Very Short term Indicators Slow Stochastic and William %R have moved above from Overbought zone after positive divergence therefore Indicating Upmoves in Short term.
Conclusions
Strong indications of short term up moves
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Nifty is sustaining below 50 and 200 DaY EMA(5616) for the last 14 sessions therefore long term trend is down, both average lines are kissing and 50 DaY EMA downward crossing 200 DaY EMA will be more down moves confirmations.
Very Short term Indicators Slow Stochastic and William %R have moved above from Overbought zone after positive divergence therefore Indicating Upmoves in Short term.
Conclusions
Strong indications of short term up moves