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| Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 08 Feb'13 |
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| Nifty 50 - End of Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 08 Feb'13 |
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| Nifty 50 - End of Day (EOD) Chart - Channel analyzing Data from Nov' 2012, onward - as on 08 Feb'13 |
Learning from the Past Week: (click here for the post)
Channel Top Stop on the EOW #3, becomes the nemesis of Bulls.
2 crows pattern which we studied last week works for the Bears #3.
2 crows pattern which we studied last week works for the Bears #3.
Day channel #5 with the arrows, show us the resistance and supports to watch out for, next week.
Index slips below the 34 EMA and 50 SMA on the EOD charts #5.
MACD visits the zero line #6
Bulls find support on the 13 SMA #3 EOW - a strong place.
Bulls find support on the 13 SMA #3 EOW - a strong place.
Bulls lose control of the short & medium term even as the Bears rev up some momentum after bouncing off the Week Channel's top line and the 2 crows pattern #3.
Looking Forward into the next Week:
Channel top on the EOW, remains a major resistance #3.
Bouncing from the green bottom line of the EOD channel #5 - Bulls could attempt a retake of the short term screen.
Index keeping above the 13 SMA on the EOW #3, is critical for Bulls.
2 crows pattern that we studied last week to be followed up.
50 SMA and 200 SMA converge after a long time - too much of this would result in a death cross.
2 crows pattern that we studied last week to be followed up.
50 SMA and 200 SMA converge after a long time - too much of this would result in a death cross.
Getting above the 76.4% Fibonacci retrace of the last low (Jan'12) from Nifty's all time high #1 - is important for Bulls to get a shot at new Highs.
Keeping the index above the 13 SMA on the EOW Charts #3 keeps the Bull in contention for a Bounce..
