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| Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 01 March'13 |
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| Nifty 50 - End of Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 01 March'13 |
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| Nifty 50 - End of Day (EOD) Chart - Channel analyzing Data from Nov' 2012, onward - as on 01 March'13 |
Learning from the Past Week: (click here for the post)
Channel Top Stop on the EOW #3, remains the nemesis of Bulls for yet another week.
2 crows pattern which we studied, gives the Bears #3 - more gains.
5 EMA on the EOM #1, fails to support the Bulls, its a critical resistance now.
Day channel #5 (new) sees the Price taking support at the the channel bottom.
50 SMA and 200 SMA converge - on the EOD charts #5.
MACD Histogram shows positive divergence to price #6.
The 76.4% Fibonacci retrace of the last low (Jan'12) from Nifty's all time high breaks, while the 61.8% holds the Price #1.
Position of the STS on the EOW, shows that the Bulls are around for a comeback #4.
Sent back at the Channel Top #3 on the Medium Term Screen, Price is at the Channel's Middle Line.
Looking Forward into the next Week:
Channel Middle (blue) and 34 EMA on the EOW, is the new support for Bulls #3.
Bouncing from the green bottom line of the new EOD channel #5 - Bulls could attempt a retake of the short term screen.
2 crows pattern that we studied last few weeks, to be followed up for its targets.
50 SMA and 200 SMA, convergence towards a death cross to be watched #5.
Getting above the 76.4% Fibonacci retrace of the last low (Jan'12) from Nifty's all time high #1 - is important for Bulls to get a shot at new Highs.
Support line on the STS #4, worth a watch.
The 76.4% Fibonacci retrace of the last low (Jan'12) from Nifty's all time high #1, is resistance and the 61.8% the support to watch.
