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 - 06 July, 2012 |
Above is the Month Chart - EOM - for analyzing Data from 2008 onwards.
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 - 06 July, 2012. |
Above is the Week Chart - EOW - for analyzing Data from 2010 onwards.
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 - 06 July, 2012. |
Learning from the Past Week: (click)
As studied last week, we see the possibility of the bullish 'Three Outside up' on the EOM "7"
The EOD chart shows the break above the old channel (black) and hold below the red top of the current channel. "1"
Staying above the 5 EMA of the EOW - we saw the Nifty scaling new heights "4"
Looking Forward into the next Week:
The bullish 'Three Outside up' on the EOM "7" fails, if the Nifty falls below last month's close i.e. 5279.
We had analyzed and called the Dawn for Bulls (click) when the Nifty was at the Blue center line of the EOW channel "4" & "6"- now its nudging the channel top - Bears Next?
Volume for this rise has been less than that of the previous rise."5" - Not good for Bulls.
Staying above the 5 EMA and the Black Top of the old channel on the EOD "1" - We expect the Bulls to run on...
The Distance between the 50 and 200 SMA was contracting last week "2" - good for Bulls.
Keeping above the 5279 mark next week or better still, the 5 EMA on the EOD one expects the Bulls to carry on ... else the Bears break in ...
