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Monday, May 26, 2014

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bulls hold Fort - Week 5 of May 2014.



Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 23 May'14


Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 23 May'14



Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Feb'2014, onward - as on 23 May'14



Learning from last Week: (click here for the previous post)


Patterns:
  • Bulls hold on to gains from the 'Medium Term', Three Outside up #W1. 
Support & Resistance:
  • Previous week's close - was support for the Bulls last week.  
  • Day Channel Mid-line was resistance #D1.
Moving Averages:
  • Index above all the Moving averages that we track
Indicators:
  • STS still around its support line but well into the overbought #W2. 
  • TRD eyes the 76.4% Fibonacci retrace #M2.


Wrap:
All screens with the Bulls - Bears defend the ATH #W1.




Looking Forward into this Week:

 

Patterns:
  • Bulls look to the 'Medium Term', Three Outside up (Study links herehere or elsewhere) for some more gains.
Support & Resistance:
  • Support for Bulls remains at 7200.
  • ATH (7564) is current resistance that the Bears want to defend #M1. 
Moving Averages: 
  • Golden Cross (study herehere or elsewhere) of the 50 & 200 SMA is on and steady, even as index is clear above these SMAs #D1.
Indicators:
  • TRD Indicator getting above the 76.4% retrace boon for the Bulls #M2.
  • STS slipping below its support line helps Bears #W2.


Wrap:
Bears look to defend the ATH #W1Bulls look to keep above support line on the STS and clear the ATH #W2.



BSE Sensex - Ichimoku Study - Bull Hold - Week 5 of May 2014.



BSE 30 - End of  Week Chart (EOW) - Analyzing 24 Month's Data - as on 23 May'14



Introduction / Primer to Ichimoku can be read at this link (click). 



Learning from the Earlier Study: (click here for the post)

Bulls keep well above Tenkan Sen and hold on to gains #W2.
Senkou Span A & B - gap steady #W3.
Tenkan Sen and Kijun Sen gap steady after deflection #W2



Wrap: Bulls het back some gains and hold near breakout High
#W2.




Looking Forward into this Week:


Chikou Span, keeping current altitude, will meet the price-line, in a few months #W1.
Post the second deflection of Tenkan Sen & Kijun Sen,  bulls good to prevent a bearish cross for another 1000 point fluctuation #W2. 



Wrap: Bears hope is to get the index below the 
Tenkan sen, Bulls to hold High! #W2.