Saturday, June 1, 2013

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 27 May to 31 May: 2013 - Bulls see stars..



Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 31 May'13





Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 31 May'13





Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Nov' 2012, onward - as on 31 May'13






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


Bulls avert a three outside down #3.  
Bearish deflection of the 5 EMA and 13 SMA, on the EOD #5.
Position of the STS on the EOW, gave the Bulls support #4.
The Bears take the short term screen while Bulls remain above the 5 EMA on the Month chart #1.
MACD and its histogram tick down #6.
The short fuse indicator ends May in the oversold #2.
May month gifts Bears a Shooting star candlestick #1.



Bulls lose the short term screen #5. 





Looking Forward into the next Week:


Bullish re-cross of the 5 EMA and 13 SMA to be watched for #5.
Bulls look to stay above the 76.4% Fibonacci retrace of the Jan'12 low to All time high #5. 
50 SMA and 200 SMA, convergence towards a death cross to be watched #5.
Red EOW channel Top, next target for Bulls #3..
Volume divergence a ray of hope for bears #6.
Shooting Star Candle stick can be followed up for study here, here or elsewhere.



Bulls look for a return of the up move - Bears see hope in a Shooting Star #1.