Nifty 50: Long Term View (or) Month Chart, each candle is 1 month's price action (or) EOM Chart:
 |
| CNX Nifty 50 - End of Month (EOM) Chart - 21 Sept, 2012 |
Above is the Month Chart - EOM - analyzing Data from 2008 onward.
Nifty 50: Medium Term View (or) Week Chart, each candle is 1 week's price action (or) EOW Chart:
 |
| CNX Nifty 50 - End of Week (EOW) Chart - 21 Sept, 2012. |
Above is the Week Chart - EOW - analyzing Data from Mid 2011 onward.
Nifty 50: Short Term View (or) Day Chart, line chart of closing Prices (or) EOD Chart:
 |
| CNX Nifty 50 - End of Day (EOD) Chart - 21 Sept, 2012. |
Above is the Day Chart - EOD - analyzing Data from May 2012, onward.
Learning from the Past Week: (click here for the post)
Bulls broke through last week's Day Channel top and reached the next logical day channel top - now shown on EOD (5).
The short fuse oscillator (2) - stays up, displaying this month's action - to date.
Negative Divergence - MACD - persists (6).
STS on EOW (4) nudged the oversold line for the third time this year - and lucky 3 - moves into bull zone !
Looking Forward into the next Week:
Just as seen last week...
The support at STS (4) helps the Bulls.
The support at STS (4) helps the Bulls.
Index sustaining above the Fibonacci 76.4 %, as marked on the EOW (3) - would keep the Bull run intact.
A massive Pullback to the Monthly Channel's Green bottom line (1) - is on the cards, if above happens.
Bears have the EOD Channel top (5) and '-ve' divergence (6) to look forward to.
The EOD channel top resistance (5) gives the Bears, a chance of redemption, with a 'throwback' to EOW channel top (3).
