Sunday, November 4, 2012

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 29 October to 02 November, 2012. - Bulls score

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 - 02 November, 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 - 02 November, 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 - 02 November, 2012
Above is the Day Chart - EOD - analyzing Data from July 2012, onward. 

Learning from the Past Week: (click here for the post)

Earlier in the Week the 5 EMA moved below the 13 SMA #e as expected, and gave the Bears some joy.
Then the 34 EMA on the EOD chart #e, gave the Bulls support, as studied by us last week.
The red Support-Resistance line  #dheld up the Bulls again, as has the 5 EMA #c.
The signal line remained below the MACD line #f, all last week.
Bulls come back from below, to the Blue Center line of the EOD Channel #e.
The short fuse indicator #b, moves up with the Nov candle's green, to-date.
STS in oversold #d indicates Bull power.

Looking Forward into the next Week:

EOD channel's blue center line #e, is now the next resistance for the Bulls.
A massive Pullback to the Monthly Channel's Green bottom line #a - is the still the Bull agenda.
Using the red support-resistance line on the on the STS #d, for a bounce back would be the Bull hope.
A close below the 5 EMA on the EOW #d, would be a blow to the Bulls.
The 34 EMA on the EOD #f remains the next support for the Bulls.
The 5 EMA on the Day chart #e - is again touching the 13 SMA, for a Bearish deflection or Bullish Cross next week.
The signal line moving above the MACD line #f, is something the Bulls look forward to.