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Tuesday, January 27, 2015

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bullish Engulfing? - Week 5 of January 2015.












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



Patterns:
  • November and December 2014 candles on Month screen #M1, formed a 'Bearish Engulfing' which failed to make make it to a 'Three Outside Down' as of now #M1. 
  • Bulls pull index up to  a new ATH this month, engulfing the December 2014 candle as of now #M1.
Support & Resistance:
  • Index closes above all the MAs that we track.
  • Bulls approaches the R2 on the month pivot #M1.
Moving Averages: 
  • The critical 5 EMA and 13 SMA on the EOW, cross Bullishly #D1.
Indicators:
  • STS stays in the over bought #W2.


Wrap:
Bulls after keeping above our mark of 8283 early in the month, breakout to make new ATH Bears are now defending the new ATH or R2 on the Month Pivot #M1.




Looking Forward into this Week:


Patterns:
  • 'Bearish Engulfing' on the Monthly Charts becoming a 'Three Outside Down', is now as remote, as that of January closing below 8283 (Study Links herehere or elsewhere) #M1.
  • 'Bullish Engulfing' of January Candle over December 2014 (Study Links herehere or elsewhere)  is on,  if this month's candle closes above 8606 #M1.
Support & Resistance:
  • Index resistances that the Bulls would want to get above this week, are the current ATH (8866) and R2 on the Monthly Pivot #M1
  • Support Levels that the Bears would love to get below, are 8606 and 8283.
Moving Averages: 
  • Golden Cross (study herehere or elsewhere) of the 50 & 200 SMA is on - these MA's are currently steady #D1.
Indicators:
  • STS, moving below the overbought, would pause the 3+ quarter long, Bull domination of the Medium and Long Term Screens #W2.


Wrap :
Staying above 8606, Bulls look to carry on into the next month with strength #M1.
Bears need to pick up the fight afresh, with a move below the 5 EMA on the EOD #D1.



BSE Sensex - Ichimoku Study - Tenkan Sen to Breakout - Week 5 of January 2015.







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


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

Index  after breaking out above the Tenkan Sen and moving above the previous high, strikes out a new ATH #W2.
Senkou Span A & B - gap steadies #W3.
The gap between Tenkan Sen and Kijun Sen steadies #W2


Wrap: Index breaks out, from the range, around the Tenkan Sen and the Kijun Sen 
#W2



Looking Forward into this Week:


Senkou Span 'A & B' converging will be bad for the Bulls #W3.
A Bearish, Chikou Span cross with Price line, at current altitude, will need a few more months #W1.
Bears seek to get the Kijun Sen above the Tenkan Sen and take out the last Index low #W2.


Wrap: Bulls Seek new All Time Highs, whereas Bears look at moving the index below the 'Tenkan Sen - Kijun Sen' range 
#W2.