 |
| Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 06 June'14 |
 |
| Nifty 50 - End of Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 06 June'14 |
 |
| Nifty 50 - End of Day (EOD) Chart - Channel analyzing Data from Feb'2014, onward - as on 06 June'14 |
Learning from last Week: (click here for the previous post)
Patterns:
- Bulls get more gains from the 'Medium Term', Three Outside up #W1.
- Bears denied a 'Three outside Down' as Bulls gap up above our mark 7236 with precision on Monday last, to take off to a new ATH.
- 5 EMA on the EOD #D1, was support for the Bulls.
- Day Channel Mid-line was resistance #D1.
Moving Averages:
- On EOD the 5 EMA and 13 SMA, had a Bullish Deflection #D1.
Indicators:
- STS crashes below its support line and Pulls Back (study) to the same, but still in the overbought zone #W2.
- TRD nears the 76.4 % Fibonacci retrace #M2.
Wrap:
Bulls control all screens and make new ATH #W1.
Looking Forward into this Week:
Patterns:
- Bulls look to the 'Medium Term', Three Outside up (Study links here, here or elsewhere) for some more gains.
Support & Resistance:
- Support for Bulls is now the 5 EMA on the EOD - keeping current momentum.
- 7711 - The Day channel middle line (by week end), is the current resistance - which the Bears want to defend.
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 above the 61.8% retrace is good for the Bulls #M2.
- STS staying below its support line, helps Bears #W2.
Wrap:
