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Monday, August 29, 2016

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Wall Fall - Week 1 of September 2016.







 



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


Patterns: 

Index vacillated around the Wall (8666) all month and crashed below it last week, the settlement week  #WeekChart1.

Support & Resistance:
Index gets support, well above the 50 SMA
#DayChart1. August Wall (link) i.e. 8666 was the Resistance later in the week. 

Moving Averages:
The critical EMA 5, is bearishly below the MA 13, only onl the day screen
#DayChart1.

Indicators:
The STC nudges above the 76% Fibonacci retrace #
MonthChart2.


Wrap: 
Bears win the fight for control of 8666. Bulls stop fall well above the 50 SMA #DayChart1.




Looking forward into this Week:


Patterns:

Red Candle on the Month Chart after 6 months? 'Evening Star' Pattern (Study Links here, here or elsewhere) in the making? #MonthChart1. 

Support & Resistance: 
Bottom Tyne of the Fork on the Day chart is the resistance to beat #DayChart1. The 50 SMA #DayChart1, is support.
 
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen
#DayChart1.
 
Indicators:
The MACD and the histogram are now ticking below zero #Day
chart2.
 

Wrap:
Bulls, want to prevent red on
this Month's Candle(edited)
#MonthChart1. Bears aim for life below the 50 SMA #DayChart1.