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Monday, July 25, 2016

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Forked - Week 4 of July 2016.








 



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


Patterns:
Bears keep the action below the Bottom Tyne of the Day Fork #DayChart 1. Bulls despite a red week, hold the previous week's gains
#WeeklyChart 1.

Support & Resistance:
Daily MA 13 was the support, while the Bottom Tyne of the
Fork on the Day Chart, was resistance as expected #Daychart 1.

Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all the above screens.

Indicators:
The STC is stuck at the 61% Fibonacci retrace #
Monthchart 2.

Wrap:
Bulls use the 'Three Outside up', to bulid on their higher high
#WeeklyChart 1
Bears manage a red week using the resistance at the fork #DayChart 1.



Looking forward into this Week:


Patterns:

'Three Outside up' Pattern (Study Links here, here or elsewhere), is active after decent gains, on the Medium Term Chart #WeeklyChart 1

Support & Resistance:
Bottom tyne of the Fork on the Day chart is the resistance to beat #
DayChart 1. The Weekly MA 5, is the first Support #WeeklyChart 1.
 
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen
#DayChart 1.
 
Indicators:
The STS staying in the oversold is power to the Bulls #Weekly
chart 2.

Wrap:
Bulls, look at continuing to the ATH
#WeeklyChart 1. Bears seek to use the current resistance, to drive the index below 8400 (the weekly MA 5 #Weeklychart 1).