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Monday, August 1, 2016

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Engulfed - Week 1 of August 2016.










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


Patterns: 

Bulls Engulf the previous week #WeekChart1.

Support & Resistance:
Daily 5 EMA was the support, while the Bottom Tyne
of the (old) Day Fork, was resistance as expected #Weekchart1.  

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 #
Monthchart2.

Wrap:
Bulls climb higher and Engulf the previous week
#WeekChart1
Bears stop the Bulls using the resistance at the fork #WeekChart1.



Looking forward into this Week:


Patterns:

'Engulfing' Pattern (Study Links here, here or elsewhere), is active, on the Medium Term Chart #WeekChart1. Bulls look for a 'Three Outside Up' (link)

Support & Resistance:
Middle tyne of the (new) Fork on the Day chart is the resistance to beat #
DayChart 1. The Wall (link) for August i.e. 8666 is the Support the Bulls would want to stay above.
 
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen
#DayChart1.
 
Indicators:
The STS staying in the oversold is power to the Bulls #Week
chart2.

Wrap:
Bulls, look for another 'Three Outside Up' and then a new ATH
#WeekChart 1. Bears seek life below the Wall (8666)