TO READ THIS WEEK's POST CLICK HERE...

Tuesday, September 6, 2016

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Lucky 7? - Week 2 of September 2016.






 




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


Patterns: 

Index recovers, as Bulls pull up, and open way above August Candle, to preclude an 'Evening star' #WeekChart1.

Support & Resistance:
Index continues its take off from support, well above the 50 SMA
#DayChart1, and cracks through the Bottom Tyne of the Day Fork #DayChart1.

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

Indicators:
The STC clinbs, well above the 76% Fibonacci retrace #
MonthChart2.


Wrap: 
Index takes off from previous week's support (50 MA) and breaks back into the Fork on the Day Screen #DayChart1.

 




Looking forward into this Week:


Patterns:

Index maintains green candles for the past 6 months. Bulls on Lucky 7 #MonthChart1. 

Support & Resistance: 
Bottom Tyne of the Fork on the Day chart is the support to maintain #DayChart1. The 50 SMA #DayChart1, is fallback support. The ATH (9119) is resistance.
 
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen
#DayChart1.
 
Indicators:
The MACD and its histogram, are now around zero #Day
chart2.
 

Wrap:
Bulls, on the 7th straight Green Month
#MonthChart1. Bears look for change, aim for life below the 50 SMA #DayChart1.