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| Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 12 July'13 |
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| Nifty 50 - End of Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 12 July'13 |
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| Nifty 50 - End of Day (EOD) Chart - Channel analyzing Data from Nov' 2012, onward - as on 12 July'13 |
Learning from the Past Week: (click here for the post)
Patterns:
- June's 'Hanging Man' Candle & May's Shooting Star on the EOM #1 Charts - yet to kick off, even as the Bullish patterns on the EOW come into play.
- On the Medium Term EOW, the previous week's 'Bullish Engulfing' turned into a 'Three Outside Up' and gave the Bulls, plenty of green #3.
- Bulls break out of Day Channel top #5.
- The 76.4% Fibonacci retrace of the 'Jan'12 low to All time high' cleared #5.
- STS #4 turned out to be a good support for Bulls.
- 5 EMA and 13 SMA cross Bullishly #5.
- 5 EMA and 13 SMA in the Medium Term, touch for deflection or cross #5.
- Index closes above the critical 13 SMA on the Medium Term #3.
- 'Trend Deviation' Indicator #2 on the long term charts show Bulls a pip ahead..
- Volumes pick up #6. Overall lower #4.
- MACD and its MA near the zero mark and Histogram ticks positive #6.
Bulls use the 'Three Outside Up' #3 to gain ground in their 3rd green week..
Looking Forward into the next Week:
Patterns:
- The 'Bullish Engulfing' which turned into a 'Three Outside Up' #3 may conflict with June's 'Hanging Man' Candle & May's Shooting Star on the EOM #1 as we approach month end.
- The Day Channel top marked #5 is now resistance - for the Bulls.
- The 76.4% Fibonacci retrace of the 'Jan'12 low to All time high' is support zone for Bears to crack #5.
- Index staying above 6006 means 5 EMA and 13 SMA make a Bullish Cross, else a Bearish Deflection #3.
- Keeping above the 200 SMA on the Day Charts good for Bulls #5.
- 13 SMA on the Medium Term - needs to be re-crossed by the Bears to get back in the game #3.
- 50 SMA and 200 SMA, convergence towards a death cross - moving closer for the last 10 days #5.
- 'Trend Deviation' Indicator #2 remains in Bull zone - to be watched.
- Volumes dipping for the up move, good for Bears #4.
- STS resistance line did and continues to support Bulls for an up move #4.
Bears hope that on the Medium Term Screen #3, the 5 EMA and 13 SMA deflect with the index below 6006 for the week - Bulls look forward to the Three Outside Up giving some more gains #3
