• Confirmed Uptrend
• Uptrend resumption since Feb 08, 2016 after a pull back of -15.2%

• The week ending on December 15 was a large green candle following a near doji for previous week
• Last week’s pivot point 2668.97; R1=2686.47, R2=2697.13; S1=2658.31, S2=2640.81; R1 was breached
• An up week;  fourth in last five weeks and eight in last ten weeks
• Broke above a down sloping flag on April 24 2017;
  • flag-low was 2322.25 during 27-Mar-17 week; shorter flag-pole length is 317.19 and longer flag-pole length is 590.88;
  • 100% extension target of shorter flag-pole near 2639.41 is achieved; and the 161.8% extension target is near 2835.46
  • 61.8% extension target of longer flag-pole is near 2687.41
• Broke above a down-sloping flag on November 14, 2016;
  • the flag low was 2083.79 during 31-Oct-16 week; the shorter flag-pole length is 202.13 and the longer flag-pole length is 383.71;
  • 261.8% extension target of shorter flag-pole near 2612.97 is achieved
  • the 161.8% extension target of longer flag-pole is near 2704.63
• Last swing low, 2322.25, was the low on March 27, 2017
• Above 10-week EM; above 39-week SMA and 89-week SMA
• Confirmed uptrend

Daily

• A green candle that gapped up at the open; the close was in the middle of the day’s range
• RSI-14 divergence – on October 20 the RSI was 79.65 and the 2578,29, on November 8 the high was 2595.47 and the RSI was 72.50; on November 30, RSI-14 was 76.67 and the index was at 2657.74; on December 12 the index was 2669.72 and RSI was 74.77; RSI is rising and is near the high
• Last pattern, a down-sloping flag in June that was broken to the upside on July 13; in August the index declined and tested the broken upper limit of the flag
• Above 20-day EMA but above 50-day EMA; Above 100-day SMA and 200-day SMA
• Pivot Point=2690.35; R1=2694.78, R2=2699.40; S1=2685.73; S2=2681.30; R1/R2 were breached
• Confirmed Uptrend

• Futures rising since 4:00 PM on December 14; moving sideways since 8:00 AM on December 18
• Broke above a triangle, not a strict one, for the second time on Friday; the height is between 45 and 60 points; the break out point is near 2666.25; the 61.8% extension target is between 2694.00 and 2704.00; the 100% extension target is between 2712.50 and 2727.50
• Sequence of higher highs and higher lows since 10:00 AM on November 2 and since August 29 with few exceptions is reasserted on November 21; it is again under pressure
• Above a rising 20-bar EMA, which is above a rising 50-bar EMA

• Rising since 4:30 PM on December 14; moving sideways since 9:30 AM on December 18
• RSI-14 crossed below 65 and has been staying below it since 2:30 PM on December 18, which indicates more downward pressure
• At/above a rising 20-bar EMA, which is above a rising 50-bar EMA

• Bollinger Band (20, 2.0) has been moving sideways since 2:30 PM on December 18
• The Bandwidth stayed below 0.10 from 8:30 PM to 3:15 AM and the fell back under it by 7:15 AM
• MFI-14 is trending down and is dipped below 25 at 7:15 AM
• The Stochastic (9, 1, 3) turned down at 8:15 AM above 88; %K crossed below %D

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