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| Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 25 Jan '13 |
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| Nifty 50 - End of Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 25 Jan '13 |
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| Nifty 50 - End of Day (EOD) Chart - Channel analyzing Data from Nov' 2012, onward - as on 25 Jan '13 |
Learning from the Past Week: (click here for the post)
Channel top on the EOW #3 - which caught our attention last couple of weeks - sends back the Bulls.
Our mark was 6106 and the week topped at 6101 - watchful bears moved down for a feast #5.
5 EMA stays above the 13 SMA all last week, on the short term charts #5 - keeping the Bulls in play.
Day channel #5 with the arrows, show us the resistance and supports to watch out for, next week.
MACD and Signal lines stay Bearishly crossed #6.
The Doji #3 formed last week - sets up a possible Evening Star Reversal.
Hitting the Week Channel top and facing a possible 'Evening Doji Star' Bulls have their work cut out for them - Currently however, Bulls control all three screens.
Looking Forward into the next Week:
Channel top on the EOW, remains a major resistance #3 and 6126 is the number to beat this week.
Clearing the EOW channel top - Bulls would aim for the EOM's green Channel bottom line #1.
The 5 EMA /13 SMA, bearish cross on the EOD is a signal to watch #5.
Index staying above the 5 EMA on the EOW, is critical for Bulls in the medium term #3.
Action of the MACD vs signal line, is worth a watch #6.
A study of the Evening Doji Star here, here and anywhere else is good for educational reasons.
6126+ to crack the EOW Channel top #3 is good for the Bulls - Evening Doji Star triggering #3 is good for Bears.
