Saturday, July 21, 2012

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 16 July to 20 July, 2012 - Bulls Hang on..

Nifty 50: Long Term View (or) Month Chart, each candle is 1 month's price action (or) EOM Chart: 
CNX Nifty 50 - End of Month (EOM) Chart - 20 July, 2012
               Above is the Month Chart - EOM -  analyzing Data from 2008 onward.                     

Nifty 50: Medium Term View (or) Week Chart, each candle is 1 week's price action (or) EOW Chart: 
CNX Nifty 50 - End of Week (EOW) Chart - 20 July, 2012.
             Above is the Week Chart - EOW -  analyzing Data from 2010 onward.                       

Nifty 50: Short Term View (or) Day Chart, line chart of closing Prices  (or) EOD Chart:
CNX Nifty 50 - End of Day (EOD) Chart - 20 July, 2012.
              Above is the Day Chart - EOD - analyzing Data from May 2012, onward.                   

Learning from the Past Week: (click for last post)
Our Bull mark of 5209 was missed by a whisker - Index closed the week at a teasing 5205.
Index kept its head above the 5 EMA on the EOM (1)
The resistance line on the EOW (4) held back the Bulls.
Bears returned for a neat pullback  at the green channel line on the EOD (5)

Looking Forward into the next Week:
Bulls have to take it above last month's close (1) to get back their force.
The new mark for the Bears, to keep the Index below, for the week - is 5208.
Keeping it above the 34 EMA on the EOD (5) and EOW (3), Bulls can make a come back.