Sunday, November 25, 2012

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 19 November to 23 November, 2012 - Bears Pause

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 - 23 November, 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 - 23 November, 2012
 Above is the Week Chart - EOW -  analyzing Data from Mid 2011 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 - 23 November, 2012
Above is the Day Chart - EOD - analyzing Data from July 2012, onward. 

Learning from the Past Week: (click here for the post)

The resolve of the Bulls is in question, despite the green candle last week - the 5 EMA and 13 SMA #5 have not crossed bullishly yet.
Bulls keep above the 13 SMA on the Week chart #3, STS stayed above the Bull line #4 - keeping the Bears at Bay.
Bulls take support at the Blue center line of the EOW channel #3.
With the redrawn channels on the EOD one sees that the Price made a pull back to the larger channel bottom - while it is contained in the smaller channel.
The short fuse indicator #2, stays up. 
STS holding in the oversold zone as a measure of Bull strength. 

Looking Forward into the next Week:

Breaking back above the green bottom line of the larger EOD channel #5 - required for Bulls to stay in Business. 
The 5 EMA and 13 SMA crossing bullishly on the short term chart #5, would indicate Bull resolve.
MACD #6 - keeping below center line is good for bears.
STS staying in oversold is good for bulls.
Index remaining below 5650 in the coming week, would mean that the Bearish cross of the 5 EMA and 13 SMA on the medium term chart #3 is on - strength of the Bears to ensure this determines how one goes into the last month of this year.