CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bears keep it sideways - Week 1 of July 2014.

Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 27 June'14

Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 27 June'14

Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Feb'2014, onward - as on 27 June'14

Learning from last Week: (click here for the previous post)

Patterns:

• Week produces a perfect Doji #W1.

Support & Resistance:

• 13 SMA on the EOD #D1, was resistance last week.  
• Green bottom line of the Day channel was support #D1 as was the 5 EMA on the EOW #W1.

Moving Averages:

• On EOD, the 5 EMA and 13 SMA, stay crossed Bearishly #D1.  

Indicators:

• STS Pull Back (study) returns at the resistance (earlier support) line, but is still in the overbought zone #W2. 
• TRD nears the 76.4 % Fibonacci retrace #M2.

Wrap:

Bears retain control of the short term screen with a red Doji #W1, Bulls defend the 5 EMA on the EOW #W1.

Looking Forward into this Week:

 

Patterns:

• Doji on the Medium Term Screen is now active (Study links here, here or elsewhere).

Support & Resistance:

• Support that bears want to reach & crack remains the 5 EMA on the EOW (7411) #W1.
• The last ATH is the goal for the Bulls #M1.

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.
• Bullish cross of the 5 EMA and 13 SMA on the EOD is the Bull hope #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:

Bears look to again reach and this time crack the 5 EMA on the EOW, Bulls seek to get to and stay above the 5 EMA on the EOD #W1.