Nifty 50: Long Term View (or) Month Chart, each candle is 1 month's price action (or) EOM Chart:
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| CNX Nifty 50 - End of Month (EOM) Chart - 29 June, 2012 |
Nifty 50: Medium Term View (or) Week Chart, each candle is 1 week's price action (or) EOW Chart:
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| CNX Nifty 50 - End of Week (EOW) Chart - 29 June, 2012. |
Nifty 50: Short Term View (or) Day Chart, line chart of closing Prices (or) EOD Chart:
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| CNX Nifty 50 - End of Day (EOD) Chart - 29 June, 2012. |
Learning from the Past Week(click):
On the EOM one sees that the 5 EMA would cross above the 13 SMA as and when the July candle appears - this as we studied was consequent to the close above 5272 (click)
As noted last week, Bulls kept it above 5125 and took the index up.
The Death Cross is still a factor - gap between the 50 & 200 SMA is widening everyday.
The Death Cross is still a factor - gap between the 50 & 200 SMA is widening everyday.
Looking forward into the Next Week:
The last two candles on the EOM, shows us a Bullish Engulfing - which can evolve into a seriously bullish 'Three outside up'.
The price has reached the channel top on the EOD and one expects resistance going forward.
Staying above the 5 EMA on the EOW - Bulls should keep their turf intact.
The last two candles on the EOM, shows us a Bullish Engulfing - which can evolve into a seriously bullish 'Three outside up'.
The price has reached the channel top on the EOD and one expects resistance going forward.
Staying above the 5 EMA on the EOW - Bulls should keep their turf intact.
