Nifty BiMonthly : As on February 2017

Further to my earlier blog :

http://lalitlk-lalit-lk.blogspot.in/2016/06/nifty-bi-monthly-chart-intermediate.html ,  it is time to share the current status on the same time frame :  that a "Bi-month" is of average 42 days  & being consisting calendar months of various duration. As such short term EMA_5 covers 10 months & long term EMA_34 covers
68 months = 5 years 8 months.

Latest chart :

 

IMO B is either in progress or may have topped out and in that case C is in progress.

 

Since 2003 Nifty is prevailing over long term EMA_34 most of the time but for a significant (marked box) below it for a few months post dip of 2253 & also dip of 4531. But for these Nifty is in bull grip for over 14 years now.

Let us have a shorter term review of Nifty in TimeFrame of 5DaysCycle & 8DaysCycle ;

 

Here 34EMA is of 170 days  , appr 4 BiMonthly candle

 

Here 34EMA is of 272 days  , appr 7 BiMonthly candle .

And a longer time 34DaysCycle chart :

 

Here 34EMA is of 1156 days  , appr 27.5 BiMonthly candle .