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| Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 05 April'13 |
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| Nifty 50 - End of Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 05 April'13 |
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| Nifty 50 - End of Day (EOD) Chart - Channel analyzing Data from Nov' 2012, onward - as on 05 April'13 |
Learning from the Past Week: (click here for the post)
The Three Outside Down's effect over the week and a bounce in first couple of days happened last week.
Position of the STS on the EOW, shows the Bull's next possible support #4.
Position of the STS on the EOW, shows the Bull's next possible support #4.
200 DMA on the EOD #5 fails last week - Bears get the honey.
Price heads towards the 50% Fibonacci retrace of the Jan'12 low to All time high #5.
Price also nears the 76.4% Fibonacci retrace of the 2009 low and All time high #3.
13 SMA on the Month Chart acts as support last week #1.
Price also nears the 76.4% Fibonacci retrace of the 2009 low and All time high #3.
13 SMA on the Month Chart acts as support last week #1.
Three Outside Down' Triggered #1 after last month's close and Bears get a 200+ point fall.
Looking Forward into the next Week:
50 SMA and 200 SMA, convergence towards a death cross to be watched #5.
Staying above 5538, the 13 SMA on the Month Charts #1 - is important for Bulls to fight back.
Bullish Cross/deflection of the 5 EMA and 13 SMA to be watched for #5.
Pull back to Day Channel's green bottom line to be watched for #5.
Crashing below the 200 SMA #5, gives the Bears a strong overhead resistance to count on.
Pull back to Day Channel's green bottom line to be watched for #5.
Crashing below the 200 SMA #5, gives the Bears a strong overhead resistance to count on.
Bears rule short and medium term screens - long term is neutral as of now.
The Three Outside Down's effect continues, if the Bulls cannot keep above 5538 (EOW).
