Nifty Bi-Monthly Chart 1996-2015 : Observation on Macd Histogram

Further to my blog:

http://lalitlk-lalit-lk.blogspot.in/2015/06/nifty-bi-monthly-chart-1996-2015.html,

my observation on the Macd Histogram may look interesting in the sense that a cross over of the zero line were of  a gap  of 1 to 20 periods of  duration 2 months ; 2 cases of 1 (showing short duration ; inclusive just concluded ) & 2 cases of 2 :

Next table summarised value on diverse dates :

 Note that a closing of 9215 or higher on end of August 2015 may render the Histogram to a positive value. 

Nifty Bi-Monthly Chart 1996-2015

Nifty Index is being compiled since 02/07/1990 ; as such, a Time Frame of Bi-Monthly (Open, High, Low & Close over a period of two months for the Index) cover the full range of the Index since inception.  Full range Chart in 150 candles is shown herein.

Full data is being shared in FaceBook group "Daily_Nifty" as per link : 

https://excel.office.live.com/x/ExcelView.aspx?FBsrc=https%3A%2F%2Fwww.facebook.com%2Fattachments%2Ffile_preview.php%3Fid%3D1655964577958570%26time%3D1435671266%26metadata&access_token=1835286898%3AAVJSrcu7hwPKuXyQJ3Q742WoEnGe_8LGBQBeq3BMUihpmQ&title=DN_Nifty-Bi-Monthly2015.xlsx

MACD (5,34,5) is not available for the first 39 candles due to default Data requirement. As such, using a zoomed view over last 113 candles fulfilling the minimum requirement :

I am sharing crucial Macd (5,34,5) for certain days (inclusive first 2K etc) ; IMHO in these higher degree Elliot Wave  Nifty had done its peak for the time being as shown by a higher Nifty with lower Macd readings.

CNX NIFTY INDEX Time Frame : Cycles of 21 days - Update # 2

Here I have up dated my views on my earlier blog entitled :
http://kolkatabull.blogspot.in/2015/03/cnx-nifty-index-time-frame-cycles-of-21.html

IMHO, for the wave originating from 920 (October 2002), top had been made at 9119, based on Elliot Oscillator aka Macd (5,34,5) . Here is a list of the some crucial points & corresponding values.

MSCI India : with RONW analysis

MSCI_Index is closely followed by FII's
comprised of SENSEX ( but for Axis, HDFC Bank & Maruti) & others. On a recent review with RONW , it was found that out of 71 constituents, 27 entities (with a cumulative weight of 28.31%) were not earning 12% in RONW and may be considered to be EVA negative. Further, 14 constituents  (with a cumulative weight of 29.73%) were a bit better with  earning in the range of  12-15% in RONW.

Rest 30 are truly BLUE CHIPS yielding 15% or more in RONW & are may be classified to be Economic Value Adders :

Book value  & trailing 12 Months EPS were sourced from Screener.in

How to create a Diverse Time Frame Chart : An Innovative Idea

Why  do one need  a "Diverse Time Frame"  ?

It is seen that for 'Elliot Wave Oscillator" to be studied properly , for high-low, number of candles in a chart should be in the range of 120-150 .

http://www.tradingfives.com/articles/elliott_oscillator.htm

For the instant case (UPL) from a low 101.55 (daily candle #267, date 13/11/12) to high 568.4 (daily candle #922, date 26/05/15) number of candles is found to be 655. From sourced (NSE) data , available since 24/10/2011, I decided to go for a  6 Days Cycle based on that.
   
The excel is being shared in group "Daily_Share" in Facebook platform :

Go to: (May consider "copy & paste in a browser" if it does not open here)

https://excel.office.live.com/x/ExcelView.aspx?FBsrc=https%3A%2F%2Fwww.facebook.com%2Fattachments%2Ffile_preview.php%3Fid%3D923353207710314%26time%3D1432954300%26metadata&access_token=1835286898%3AAVJnD-aryKilTCYqdi1HJyNmB5RJezY5Ng95Nlk6HIsAgQ&title=DS_UPL_TF_6DC.xlsxhttps://excel.office.live.com/x/ExcelView.aspx?

Step # 1 : First source OHLC data from any source ; copy relevant date in cells F,G, H , I (use function" Max")  ,J (use function" Min" ) & K from a set of data , e.g., 

Step # 2 : Write in formula for EMA_5 in Cell K in row 33, e.g.,

Step # 3 : Write in formula for EMA_34 in Cell L in row 207, e.g.,

Step # 4 : Write in formula for MACD  in Cell M in row 207, e.g.,

Step # 5 : Write in formula for MACD_Signal  in Cell N in row 231, e.g.

Step # 6 : Write in formula for MACD_Histogram  in Cell O in row 231, e.g.

Step # 7 :  Finally copy suitably full range inclusive BLANKS & paste to cover the full range of your Data Use excel to create your desired Chart , e.g., 

O(pen)H(igh)L(ow)C(lose)

Step # 8 :   Use excel to create your desired other Chart , e.g., 

MACD (5,34,5)

CNX NIFTY INDEX Time Frame : Cycles of 21 days - Update # 1

Here I have up dated my views on my earlier blog entitled :
http://kolkatabull.blogspot.in/2015/03/cnx-nifty-index-time-frame-cycles-of-21.html

In this Chart I examined the first 150 candles from my excel aided data base. What is being represented by 5EMA & 34EMA  are shown. My overall impression is based on Elliot Wave Oscillator aka Macd (5,34,5). Initially my findings are inconclusive.

" Wave 5 often makes a new high or low price for the swing but always diverges from the Oscillator. If the suspected Wave 5 makes a new extreme price simultaneously with a new Oscillator extreme then it is not a Wave 5 " according to http://www.tradingfives.com/articles/elliott_oscillator.htm
If Nifty closes at/above 8874 , in TF of 21 days cycle, on 19/05/2015, Macd & Macd histogram shall be above that during W3 peak thereby W5 shall be invalidated; however, Macd corresponding to supposed '5' remained below that for supposed '3' & further the histogram had turned negative with a value of (161) { minus 161} . My  Iabel are as in the chart :
  

IMHO Nifty had topped out for the time being & presently wave  A in retracement of big up move of 9119-920 = 8199 is in play.  

CNX Nifty : TF of 6 days

It is seen that Nifty had move from 4531 to all time high at 9119 , herein , below a weekly chart :

Number of Weekly candles covering this range is 167 .

  

Q " "The Elliott Oscillator is most effective when the chart has the "correct" number of bars. From 100 to 150 bars is the correct number of bars to use with the oscillator. Dr. Bill Williams suggests 100-140. Tom Joseph implies that 150 is right. We like to use about 120 bars, which is comfortably in the middle of that range, and which has consistently produced reliable results."

http://www.tradingfives.com/articles/elliott_oscillator.htm UQ

For covering NIFTY from 4531 to ATH 9119,it is being felt that a cycle of 6 days based on NSE data for OHLC  would be helpful to determine the status of  the wave in the light of the Elliott Oscillator Macd (5,34,5). Accordingly, here is the excel derived Chart with candle # 149 ( 6DC period ended on 19/05/2015)  & last candle in progress to terminate on 27/05/2015.

The most important single concept about the Elliott Oscillator is that the highest/lowest point of the Oscillator is connected to the bullish/bearish Wave 3 of the swing.  Related concepts are that Wave 4 crosses the zero line in the opposite direction of the trend.