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Sunday, July 1, 2012

CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 25 June to 29 June, 2012 - Bulls come thro'



Nifty 50: Long Term View (or) Month Chart, each candle is 1 month's price action (or) EOM Chart:
CNX Nifty 50 - End of Month (EOM) Chart - 29 June, 2012


Nifty 50: Medium Term View (or) Week Chart, each candle is 1 week's price action (or) EOW Chart:
CNX Nifty 50 - End of Week (EOW) Chart - 29 June, 2012.


Nifty 50: Short Term View (or) Day Chart, line chart of closing Prices  (or) EOD Chart:
CNX Nifty 50 - End of Day (EOD) Chart - 29 June, 2012.



Learning from the Past Week(click):
On the EOM one sees that the 5 EMA would cross above the 13 SMA as and when the July candle appears - this as we studied was consequent to the close above 5272 (click)
As noted last week, Bulls kept it above 5125 and took the index up.
The Death Cross is still a factor - gap between the 50 & 200 SMA is widening everyday.


Looking forward into the Next Week: 
The last two candles on the EOM, shows us a Bullish Engulfing - which can evolve into a seriously bullish 'Three outside up'.
The price has reached the channel top on the EOD and one expects resistance going forward.
Staying above the 5 EMA on the EOW - Bulls should keep their turf intact.



S&P 500 - Triple Screen 'Technical Analysis' - Week: 25 June to 29 June 01 2012 - Bulls keep above channel top.




S&P 500: Long Term View (or) Month Chart (each candle is 1 month's price move)  (or) EOM Chart:
S&P 500 - End of  Month Chart (EOM) - 29 June, 2012



S&P 500: Medium Term View (or) Week Chart (each candle is 1 week's price move) (or) EOW Chart:  
S&P 500 - End of  Week Chart (EOW) - 29 June, 2012.



S&P 500: Short Term View (or) Day Chart (each candle is 1 day's price move)  (or) EOD Chart:  
S&P 500 - End of  Day Chart (EOD) -  29 June, 2012.


Learning from the Past Week(click):
EOM sees a close above the 5 EMA - Bulls would love that.
The last two candles on the EOW neatly bounced off the White Weekly channel top - as anticipated last week.
Bulls staved off a bearish cross on the RSI (EOW).
The redrawn EOD channel in yellow - shows the Index on a steep rate of climb, and its above the MVWAP 34.


Looking forward into the Next Week:

On the EOM the developing Bullish Harami is complete - bulls now look forward to this mutating into a Bullish 'Three inside up' next Week.
We see an Bullish Engulfing Pattern on the EOW, this for a bull should turn into a bullish 'Three outside up'.
A Bullish cross of the 5 EMA and 13 SMA is on next week, if the index closes above 1353.
Keeping above the MVWAP 34 on the EOD, Bulls would look at taking off from the Week Channel (White) top.