CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bulls sneak a 3 outside up - Week 4 of April 2014.

Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 17 Mar'14

Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 17 Mar'14

Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Aug'2013, onward - as on 17 Mar'14

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

Patterns:

• Engulfing Pattern of previous week becomes a Three outside up #W1 by a wafer thin margin. 
• Evening star possibility on the Monthly charts remain #M1.

Support & Resistance:

• The 5 EMA on the medium term charts #W1 was support for Bulls once again. 

Moving Averages:

• Index sees the short term 5 EMA and 13 SMA meeting for a deflection or cross #D1. 

Indicators:

• MACD and its MA cross bearishly #D2, 
• TRD hanging around the 61.8% retrace drawn #M2.

Wrap:

Bulls manage to retain control of all screens - Bears eye a evening star #M1.

Looking Forward into this Week:

 

Patterns:

• Bullish Three outside up ( Study link here, here or elsewhere) active but needs a watch due to the meager margin it grew out of #W1.
• Bears see a possibility of an Evening Star formation #M1 (Study link here, here or elsewhere)  

Support & Resistance:

• The current support, the April'14 Wall i.e. 6642 - was tested, last couple of weeks.
• EOD Channel top is now resistance for the Bulls #D1. 

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.
• 5 EMA staying above the 13 SMA  (+6724 for Monday)  important for Bulls #D1.

Indicators:

• TRD Indicator staying above the 61.8% retrace boosts bulls #M2.
• MACD staying below its MA favors Bears #D2.

Wrap:

Bears hope for a Evening Star #M1, Bulls seek to keep the weekly Three outside up alive #W1.

BSE Sensex - Ichimoku Study - Deflection Gains - Week 4 of April 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 18 Month's Data - as on 17 Mar'14

Introduction / Primer to Ichimoku can be read at this link (click). 



Learning from the Earlier Study: (click here for the post)

Bulls take a break near All Time Highs #W2.
Senkou Span A & B - gap widens #W3.
Tenkan Sen and Kijun Sen deflection clearly visible #W2



Wrap: Deflection of the Tenkan Sen and Kijun Sen: gain for Bulls #W2.




Looking Forward into this Week:

Chikou Span, keeping current altitude, will avoid the price-line, for a few months #W1.
Current deflection of Tenkan Sen & Kijun Sen, makes for a bull party #W2. 



Wrap: Bears like a cross of the Tenkan sen and the Kijun Sen - Bulls see new highs beyond the deflection #W2.

Say ...

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bulls Hold fort - Week 3 of April 2014.

Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 11 Mar'14

Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 11 Mar'14

Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Aug'2013, onward - as on 11 Mar'14

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

Patterns:

• January and February Candles formed a  'Piercing Pattern' #M1. Bulls gain in March and have muted gains in April.
• Index forms engulfing pattern on weekly charts #W1. Evening star possibility on the Monthly charts #M1.

Support & Resistance:

• The 5 EMA on the medium term charts #W1 was support for Bulls. 

Moving Averages:

• Index closes above the short term 5 EMA #D1. 

Indicators:

• MACD and its MA meet #D2, TRD nudging the 61.8% retrace drawn #M2.

Wrap:

Bulls control all screens - Bears mull evening stars #M1.

Looking Forward into this Week:

 

Patterns:

• Bullish 'Piercing Pattern' (Study link here, here or elsewhere) on the Long Term Chart #M1 is active and has produced new breakout Highs.  
• Bullish Engulfing sets up a Three outside up ( Study link here, here or elsewhere) #W1.
• Bears see a possibility of an Evening Star formation #M1 (Study link here, here or elsewhere)  

Support & Resistance:

• The current support is the April'14 Wall i.e. 6642 (Wall = Approx Hawala rate - study link here, here or elsewhere). 
• EOD Channel top is now resistance for the Bulls #D1. 

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 staying above the 61.8% retrace boosts bulls #M2. MACD sliding below its MA favors Bears #D2.

Wrap:

Bears hope for a Evening star #M1, Bulls need to stay above last week's close - to continue the bull run with a 'Three outside up' #W1.

BSE Sensex - Ichimoku Study - Bulls soar after pauses - Week 3 of April 2014.

BSE 30 - End of  Week Chart (EOW) - Analyzing 12 Month's Data - as on 11 Mar'14

Introduction / Primer to Ichimoku can be read at this link (click). 



Learning from the Earlier Study: (click here for the post)

Bulls break-out to new All Time Highs again #W2.
Senkou Span A & B - gap widens #W3.
Distance between Tenkan Sen and Kijun Sen decreases as the broad deflection becomes a touch and go #W2
Chikou Span also makes a new High #W1.  


Wrap: Index soars after pauses, to a new ATHs #W2.




Looking Forward into this Week:

Chikou Span keeping current altitude, will keep it away from the price-line, for some time #W1.
Current deflection of Tenkan Sen & Kijun Sen, makes for a bull party #W2. Possibility of a Bearish Cross of these two lines however, keeps the Bulls on the edge.


Wrap: Bears like a cross of the Tenkan sen and the Kijun Sen - Bulls see new highs beyond the deflection #W2.