Sunday, June 16, 2013

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 10 June to 14 June: 2013 - Bears rock on star power

Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 14 May'13

Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 14 May'13

Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Nov' 2012, onward - as on 14 May'13

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

Last month's Shooting star candlestick #1- gives the Bears their 2nd Red week in June - Index ends the week at the 200 SMA.
Support line on the STS #4, holds up the Bull as anticipated.
MACD histogram ticks up, while in the negative #6.
The short fuse indicator starts June at zero and moves lower #2.
13 SMA on the Long term charts #1 - supports the Bulls last week.
On the Weekly charts the 34 EMA #3, is where the index ended the week.
Finishing above the 5 EMA, 200 SMA and their confluence at 5808 #5, bodes well for the Bulls.
The i, ii, iii on the Long Term Charts #1, depict the three peaks Bulls made and Bears held.

Bulls hold up the Nifty at the 200 SMA #5. 

Looking Forward into the next Week:

Bullish Cross of the 5 EMA and 13 SMA, in the short term to be watched for #5.
Bearish Cross of the 5 EMA and 13 SMA, on the Medium Term (5737) also to be watched for #3.
Bulls look to get 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.
Shooting Star Candle stick #1 studied the week before last week, is still in play.
Support line on the STS #4, can continue to hold up the Bulls.
Getting above the 50 SMA #5, critical for Bulls to get back into Rally mode.
5858 and 5959 are important levels for the Bulls to cross - while Bears eye the 5737 mark.

Bear hope remain on the Shooting Star #1 - Bulls see 200 SMA as take off for another go at the 'All time high'.