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 - 09 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:
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| CNX Nifty 50 - End of Week (EOW) Chart - 09 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:
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| CNX Nifty 50 - End of Day (EOD) Chart - 09 November, 2012 |
Above is the Day Chart - EOD - analyzing Data from July 2012, onward.
Learning from the Past Week: (click here for the post)
EOD channel's blue center line #5, was as anticipated, this week's resistance for the Bulls.
The red support-resistance line on the on the STS #4, did not support a bounce back as the Bulls hoped.
However the Bulls keep it above the 5 EMA on the EOW #3.
The 13 SMA on the EOD #5, supports the Bulls.
The 5 EMA on the Day chart #5 - which was touching the 13 SMA, moved up for a Bullish Cross earlier in the week.
The signal line looks like deflecting the MACD line #6, dashing Bull's hope as of now.
The short fuse indicator #b, moves up with the Nov candle's green, to-date.
The red support-resistance line on the on the STS #4, did not support a bounce back as the Bulls hoped.
However the Bulls keep it above the 5 EMA on the EOW #3.
The 13 SMA on the EOD #5, supports the Bulls.
The 5 EMA on the Day chart #5 - which was touching the 13 SMA, moved up for a Bullish Cross earlier in the week.
The signal line looks like deflecting the MACD line #6, dashing Bull's hope as of now.
The short fuse indicator #b, moves up with the Nov candle's green, to-date.
Looking Forward into the next Week:
EOD channel's blue center line #5, is again the next resistance for the Bulls.
A massive Pullback to the Monthly Channel's Green bottom line #1 - is the still the Bull agenda.
The red support-resistance line on the on the STS #4, having given away to the bear moves - one looks at the STS holding in the oversold zone as a measure of Bull strength to come.
A close below the 5 EMA on the EOW #4, would be a the next Bear task.
The 5 EMA on the EOW #3 remains the next support for the Bulls.
The 5 EMA on the Day chart #5 - looks like moving into the 13 SMA, again as it has the past few weeks.
The 5 EMA on the EOW #3 remains the next support for the Bulls.
The 5 EMA on the Day chart #5 - looks like moving into the 13 SMA, again as it has the past few weeks.
The signal line action vis-à-vis the MACD line #6, is something to watch keenly, the coming week.
