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| Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 20 June'14 |
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| Nifty 50 - End of Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 20 June'14 |
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| Nifty 50 - End of Day (EOD) Chart - Channel analyzing Data from Feb'2014, onward - as on 20 June'14 |
Learning from last Week: (click here for the previous post)
Patterns:
- 'Medium Term', Three Outside up #W1 gains falter.
- 13 SMA on the EOD #D1, cracked by bears.
- R1 of the Monthly Pivot was the resistance #D1.
Moving Averages:
- On EOD, the 5 EMA and 13 SMA, cross Bearishly #D1.
Indicators:
- STS Pull Back (study) falters at the resistance (earlier support) line, but is still in the overbought zone #W2.
- TRD nears the 76.4 % Fibonacci retrace #M2.
Wrap:
Bulls lose control of short term screen - Bears get second red week #W1.
Looking Forward into this Week:
Patterns:
- Bulls had one of the best 'Medium Term', Three Outside up (Study links here, here or elsewhere) for gains.
Support & Resistance:
- Support that bears want to reach & crack is now the 5 EMA on the EOW (7411) #W1.
- The R1 of the Month Pivot 7650 #D1 remains the resistance that Bulls want to live above.
Moving Averages:
- Golden Cross (study here, here or elsewhere) of the 50 & 200 SMA is on and steady, even as index is clear above these SMAs #D1.
Indicators:
- TRD Indicator keeping below the 76.4% retrace is good for the Bears #M2.
- STS getting above resistance (earlier support) line, helps Bull Cause #W2.
Wrap:
