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| Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 17 May'13 |
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| Nifty 50 - End of Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 17 May'13 |
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| Nifty 50 - End of Day (EOD) Chart - Channel analyzing Data from Nov' 2012, onward - as on 17 May'13 |
Learning from the Past Week: (click here for the post)
Last month's Shooting star candlestick #1- gives the Bears their 3rd Red week in June - Index ends the week at the 61.8% Fibonacci retrace of the Jan'12 low to All time high #5.
Support line on the STS #4, fails the Bulls.
Volume ticks up, for this down move #7.
The short fuse indicator, which started June at zero, continues to moves lower #2.
Bearish Deflection of the 5 EMA and 13 SMA, gives the bears momentum #6.
Bearish Cross of the 5 EMA and 13 SMA, on the Medium Term (@5737) also adds speed to the fall #3.
Bearish Cross of the 5 EMA and 13 SMA, on the Medium Term (@5737) also adds speed to the fall #3.
Bears move the Nifty down to the '61.8% Fibonacci retrace of the Jan'12 low to All time high' #5.
Looking Forward into the next Week:
Bullish Cross of the 5 EMA and 13 SMA, in the short term to be watched for #5.
Bulls look to keep above the 61.8% Fibonacci retrace of the Jan'12 low to All time high #5.
50 SMA and 200 SMA, convergence towards a death cross to be watched #5.
Shooting Star Candle stick #1 studied early this month, is still in play.
Bears take control the Medium Term and the Short Term Screens now.
Bear hope remain on the Shooting Star #1 - Bulls see support at the "61.8% Fibonacci retrace of the Jan'12 low to All time high" #5
