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Monday, September 26, 2016

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Fork Holds, Islands Fill - Week 5 of September 2016.






 



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


Patterns: 

Day Fork holds the index up, even as Islands form and fill in the gaps, neutralizing each other #DayChart1.

Support & Resistance:
Index again takes support
#DayChart1, exactly at the Bottom Tyne of the Day Fork #DayChart1. Resistance was again near the top Island #DayChart1.

Moving Averages:
The critical EMA 5, poised to cross bullishly or deflect bearishly wit the MA 13 #DayChart1
.

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


Wrap: 
Index vacillates between two major island reversals, Bulls find support at the Fork #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 first support #DayChart1, Weekly 13 SMA (8680) is fall-back support. The ATH (9119) is the next resistance.
 
Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen
#DayChart1.
 
Indicators:
The MACD and its MA touch, for a bearish cross or a bullish deflection #Day
Chart2.
 

Wrap:
Bulls, well in the Day fork and on the 7th straight Green Month
#MonthChart1. Bears look for change, a break below the Day fork and life below 8804 #DayChart1.