Learning from last Week: (click here for the previous post)
Patterns:
Evening Doji Star formation, splashes more red on the Weekly Chart #W1.
Support & Resistance:
55 SMA on the Weekly chart #W1 was support, the index failed to reach the top of the weekly channel #W1.
Moving Averages:
The critical 5 EMA, is bearishly below the 13 SMA, on all the above screens.
Indicators:
STS continues to be at the mid point #D2.
Wrap:
After the Bulls make a Higher High #M1, Bears paint the screen red, with help from the Evening Doji Star #W1.
Looking forward into this Week:
Patterns:
'Evening Doji Star' (Study Links here, here or elsewhere), is active on the Week Chart #W1.
Support & Resistance:
Weekly Channel Top (orange) is the resistance to beat #W1. The lower tyne of the new fork is the first support #D1, fallback is MVWAP33 on the Month screen #M1.
Moving Averages:
The 55 & 222 SMA, is a in a 'Golden Cross' on the Day Screen #D1.
Indicators:
TSI is turning back from resistance at the 61.8% mark #M2.
Wrap:
Bulls, pray that the new fork holds (1994+ for Monday), and seek to close the week above the weekly 55 SMA #W1.
Bears look to break below the fork #D1 and then would love a lower low (below 1800).
Learning from last Week: (click here for the previous post)
Patterns:
Nifty stays below the bottom of the Weekly Channel i.e. the green bottom line #W1.
Bears smell honey, weekly candle ia a High Wave indicating confusion #W1.
Support & Resistance:
Bottom of the Weekly Channel (green line #W1) was resistance. The weekly 13 SMA was support #W1.
Moving Averages:
The critical 5 EMA, is Bullishly above the 13 SMA, only on the Medium Term screen #W1.
Indicators:
The TRD #M2, is above the mid point (50% Fibonacci).
Wrap:
Index spends second week below the green Medium Term Channel bottom #W1. Bulls hang on to control of the steep day channel #D1.
Looking Forward into this Week:
Patterns:
After the Pullback to the Weekly Channel bottom (Study Links here, here or elsewhere), Bears manage 2 weeks below the green line, High wave. active on the Weekly Channel (Study Links here, here or elsewhere) #W1.
Support & Resistance:
Resistance is at the daily 5 EMA #D1. Index support that the Bears failed to ger to, last week was the weekly 50 SMA (7858) #W1.
Moving Averages:
A Golden Cross (50 and 200 SMA) is active on the day chart #D1.
Indicators:
The STS staying in the over sold, is power to the Bulls #W2.
Wrap :
Bulls, seek to climb above the green line (8252) and get back into the Weekly Channel #W1. Bears now plan life below the steep Day Channel #D1.
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Index sees more red as the Chikou Span's progress is halted by the Kijun Sen #W1.
Index stays in the Kumo, by taking support at the Tenkan Sen #W2.
Senoku Spans A and B converge some more #W3.
Wrap:
Index despite two back to back red weeks, stays inside the Bull and Bear neutral, 'Kumo' #W2.
Looking Forward into this Week:
Bears hope the resistances at the Senoku Span B, and Chikou Span would send the Index sliding down the Kumo #W2.
Getting the the Chikou Span above the Kijun Sen, and breaking out of the current narrow Kumo would be best for bulls #W2.
The Senoku Span 'A' crossing above the Senoku Span 'B' is the next Bull ask #W3.
Wrap:
Preventing a Kumo Breakout, is the Bear target #W2.
taking advantage of the narrow Kumo, to make a Kumo Breakout is the Bull want #W2.
Learning from last Week: (click here for the previous post)
Patterns:
Evening Doji Star formation, splashes red on the Weekly Chart #W1. Bulls hold index at our support - Fork's bottom Tyne #D1.
Support & Resistance:
Bottom Tyne of the fork on the day screen #D1, was support and the daily 13 SMA was resistance last week.
Moving Averages:
The critical 5 EMA, is bearishly below the 13 SMA, on the day screen #D1.
Indicators:
STS is at the mid point #D2.
Wrap:
After the Bulls make a Higher High #M1, Bears get red with the Evening Doji Star #W1.
Looking forward into this Week:
Patterns:
'Evening Doji Star' (Study Links here, here or elsewhere), is active on the Week Chart #W1.
Support & Resistance:
Weekly Channel Top (orange) is the resistance to beat #W1. Last week's open (2092) is the first Support and the lower tyne of the fork is the fallback support #D1.
Moving Averages:
The 55 & 222 SMA, is a in a 'Golden Cross' on the Day Screen #D1.
Indicators:
TSI is on the 61.8% mark #M2.
Wrap:
Bulls, after making a higher high (above 2116) #M1, look to reach the ATH.
Bears seek to get the Index below 2092 #D1, and seek a lower low (below 2026).
Learning from last Week: (click here for the previous post)
Patterns:
Nifty slips out of the bottom of the Weekly Channel i.e. the green bottom line #W1.
Bears pray that the Pullback is over and done with #W1.
Support & Resistance:
Bottom of the Weekly Channel (green line #W1) was resistance. The weekly 5 EMA was support #W1.
Moving Averages:
The critical 5 EMA, is Bullishly above the 13 SMA, only on the Medium Term screen #W1.
Indicators:
The TRD #M2, is above the mid point (50% Fibonacci).
Wrap:
Index hovers just below the green Weekly Channel bottom #W1. Bulls retain control of the steep day channel #D1.
Looking Forward into this Week:
Patterns:
After the Pullback to the Weekly Channel bottom (Study Links here, here or elsewhere), Bears manage a week below the green line, however battle for clear control of this space is still on #W1.
Support & Resistance:
Resistance is at R1 (8358) of the June Pivot #M1. The 'Fibonacci 76.4% retrace of the 2010 low to the ATH' is support (8040) #W1.
Moving Averages:
A Golden Cross (50 and 200 SMA) is active on the day chart #D1.
Indicators:
The STS staying in the over sold, is power to the Bulls #W2.
Wrap :
Bulls, seek to climb above the green line (8238) and get back into the Weekly Channel #W1. Bears now plan life below the Day Channel #D1.
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Chikou Span's progress is halted by the Kijun Sen #W1.
Index is in the Kumo, manages not to break down below it #W2.
Senoku Spans A and B converge #W3.
Wrap:
Index again, bang inside the Kumo #W2.
Looking Forward into this Week:
Bears hope the resistances at the Senoku Span B, and Chikou Span would send the Index down #W2.
Keeping the the Chikou Span below the Kijun Sen, important for Bears #W2.
The Senoku Span 'A' crossing above the Senoku Span 'B' is the next Bull ask #W3.
Wrap:
Preventing a Kumo Breakout, is the Bear target #W2.
Keeping the Chikou span above the price line #W1, and a Kumo Breakout is the Bull hope #W2.
Learning from last Week: (click here for the previous post)
Patterns:
Evening Doji Star formation apparent on the Weekly Chart #W1. Bulls make a Higher High #M1.
Support & Resistance:
Middle Tyne of the fork on the day screen #D1, was support and later resistance last week.
Moving Averages:
The critical 5 EMA, is bearishly below the 13 SMA, on the day screen #D1.
Indicators:
STS is in the Over bought zone #D2.
Wrap:
Bulls make a Higher High #M1. Bears manage Evening Doji Star #W1.
Looking forward into this Week:
Patterns:
Possible 'Evening Doji Star' (Study Links here, here or elsewhere), on the Week Chart #W1.
Support & Resistance:
Weekly Channel Top (orange) is the resistance to beat #W1. The lower tyne of the fork is the support #D1.
Moving Averages:
The 55 & 222 SMA, is a in a 'Golden Cross' on the Day Screen #D1.
Indicators:
TSI just above the resistance at the 61.8% mark #M2.
Wrap:
Bulls, after making a higher high (above 2116) #M1, look to reach the ATH.
Bears seek to get the Index below the fork #D1, and seek a lower low to make up.
Learning from last Week: (click here for the previous post)
Patterns:
Nifty noses in and out of the bottom of the Weekly Channel i.e. the green bottom line #W1. Bears get a red week #W1.
Support & Resistance:
Middle line of the Day Channel #D1 was Support and then resistance. The daily 13 SMA was support by week end #D1.
Moving Averages:
The critical 5 EMA, remains bearishly below the 13 SMA, only on the Long term screen #M1.
Indicators:
The TRD #M2, is above the mid point (50% Fibonacci).
Wrap:
Index drops off from support at the Day Channels middle, its playing 'peek a boo' with the Weekly Channel bottom #W1.
Looking Forward into this Week:
Patterns:
Index after the Pullback to the Weekly Channel bottom, on the Medium Term Screen (Study Links here, here or elsewhere), has broken in and out of the channel, battle for control of this space continues #W1.
Support & Resistance:
Resistance
is at R1 (8358) of the June Pivot #M1.
The 'Fibonacci 76.4% retrace of the 2010 low to the ATH' is support
(8040) #W1.
Moving Averages:
A Golden Cross (50 and 200 SMA) is active on the day chart #D1.
Indicators:
The STS reaching the over sold is power to the Bulls #W2.
Wrap :
Bulls, seek to clear 8358 and target a new ATH. Bears seek life below the Week Channel #W1.
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Chikou Span's progress is halted by the Kijun Sen #W1.
Index is in the Kumo, fails to break above it #W2.
Senoku Spans A and B converge #W3.
Wrap:
Index bang inside the Kumo #W2.
Looking Forward into this Week:
Bears hope the resistance at the Senoku Span B, would send the Index down #W2.
Keeping the the Chikou Span below the Kijun Sen, important for Bears #W2.
The Senoku Span 'A' crossing above the Senoku Span 'B' is the next Bull ask #W3.
Wrap:
Defending the Kumo is the Bear target #W2.
Keeping the Chikou span above the price line #W1, and a Kumo Breakout is the Bull hope #W2.
Learning from last Week: (click here for the previous post)
Patterns:
Last weeks candle opens the possibility of an Evening Doji Star formation #W1.
Support & Resistance:
Middle Tyne of the fork on the day screen #D1, was once again the resistance last week, The daily 50 SMA was the support.
Moving Averages:
The critical 5 EMA, remains bullishly above the 13 SMA, on all screens.
Indicators:
STS in the Over bought zone #D2.
Wrap:
Bears again keep the index below the previous High (2116) #W1. Index makes a Doji #W1.
Looking forward into this Week:
Patterns:
'Closing White Marubozu' (Study Links here, here or elsewhere), remains active on the Week Chart #W1.
Support & Resistance:
Last High (2116) continues to be the resistance to beat. The lower tyne of the fork is the support #D1.
Moving Averages:
The 55 & 222 SMA, is a in a 'Golden Cross' on the Day Screen #D1.
Indicators:
TSI is facing resistance at the 61.8% mark #M2.
Wrap:
Bulls, sliding higher, just below the middle Tyne of the fork #D1, are progressing towards making a higher high (2116+) #W1.
Bears seek to get the Index below the fork #D1.
Learning from last Week: (click here for the previous post)
Patterns:
Nifty noses into the bottom of the Weekly Channel i.e. above the green bottom line #W1. Bulls dominate above this line #W1.
Support & Resistance:
Middle line of the Day Channel #D1 was Supporrt. The R2 of the Month Pivot (8258) was precise enough resistance #W1.
Moving Averages:
The critical 5 EMA, remains bearishly below the 13 SMA, only on the Long term screen #M1.
Indicators:
The TRD #M2, is above the mid point (50% Fibonacci).
Wrap:
Index takes off from support at the Day Channels middle, to nose into the Weekly Channel #W1.
Looking Forward into this Week:
Patterns:
Pullback to the Weekly Channel bottom, on the Medium Term Screen (Study Links here, here or elsewhere), has broken into the channel, keeping it that way is the Bull challenge #W1.
Support & Resistance:
Resistance is again at R2 (8258) of the Month Pivot #M1 and above this at 8343. The 'Fibonacci 76.4% retrace of the 2010 low to the ATH' #W1 is support (8040) #W1.
Moving Averages:
A Golden Cross (50 and 200 SMA) is active on the day chart #D1.
Indicators:
The MACD is above its MA, histogram is sloping down #D2.
Wrap :
Dominant Bulls, seek to clear 8343 and target a new ATH. Bears seek to defend the Monthly R2 #W1.
Introduction / Primer to Ichimoku can be read at this link (click).
Learning from the Earlier Study: (click here for the previous post)
Chikou Span stays above the Price line, and above the Tenkan Sen #W1.
Index resisted at the Kumo, red week #W2.
Senoku Spans A and B flatten #W3.
Wrap:
Index pauses below the Kumo #W2.
Looking Forward into this Week:
Bears hope the resistance at the Kumo, would produce a few red weeks #W2.
Holding the the Chikou Span below the Kijun Sen, important for Bears #W2.
The Senoku Span 'A' crossing above the 'B' is the next Bull ask #W3.
Wrap:
Defending the Kumo is the Bear target #W2.
Keeping the Chikou span above the price line and entering the Kumo is the Bull ask #W2.
