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| Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 07 May'13 |
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| Nifty 50 - End of Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 07 May'13 |
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| Nifty 50 - End of Day (EOD) Chart - Channel analyzing Data from Nov' 2012, onward - as on 07 May'13 |
Learning from the Past Week: (click here for the post)
Bearish deflection of the 5 EMA and 13 SMA, on the EOD #5 observed last week - sends the index down to the 50 SMA.
Support line on the STS #4, can hold up the Bulls again.
Bulls stayed above the 76.4% Fibonacci retrace of the Jan'12 low to All time high #5 most of the week and slipped below it on Friday last.
MACD and its histogram tick down #6.
The short fuse indicator starts June in zero land #2.
May gift to Bears - the Shooting star candlestick #1- gives them a red week to start June with #3.
Bears bear down to the 50 SMA #5.
Looking Forward into the next Week:
Bullish re-cross of the 5 EMA and 13 SMA to be watched for #5.
Bulls look to get above the 76.4% 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.
Blue EOW channel Mid, next support for Bulls #3..
Volume divergence a ray of hope for bears #6.
Shooting Star Candle stick #1 studied last week, is still in play.
Bears see more hope in a Shooting Star #1 - Bulls see 50 SMA as take off for another go at the 'All time high'.
