• Confirmed Uptrend
• December 2017 closed higher; index has been higher for the nine straight months; it has only one down month, March 2017, since October 2016
• Uptrend resumption since Feb 08, 2016 after a pull back of -15.2%

• The week ending on February 16 was a large green bodied candle with +4.3% advance following -5.2% decline previous week
• Last week’s pivot point=2703.03, R1=2783.61, R2=2835.00; S1=2651.64, S2=2571.06; R1 was breached;
• An up week; third in last five weeks and seventh 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 near 2687.41 is achieved; the 100% extension target is near 2913.13
• 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 near 2704.63 is achieved; the 261.8% extension target is near 3088.34
• Last swing low, 2322.25, was the low on March 27, 2017
• Below 10-week EMA; at 39-week SMA and above 89-week SMA
• Uptrend under pressure

Daily

• An almost shooting star candle just above 20-day EMA and near 61.8% retracement of past few weeks decline from all time high
• The 38.2% Fibonacci retracement from the lows of February 2016 is near 2465.50; the 38.2% Fibonacci retracement from June 2016 lows is near 2534.86 and the index low on Friday 2532.69
• Last big pattern, a down-sloping flag in June 2017, was broken to the upside on July 13, 2017; in August the index declined and tested the broken upper limit of the flag; since then the index has made three very small flags; it broke to the upside of the last flag on January 2
• Bounced off 200-day SMA on February 9
• Above 50-day EMA and 100-day SMA but above 200-day SMA

• Broke above a resistance level of 2733.00 and now back to it; back to EMA50 after a short breach above it
• A horizontal channel is forming; at the upper limit after a short breach above it
• RSI-9 in a downtrend since 2:00 AM on February 16 after twice going above 70;
• Below 20-bar EMA and at/above EMA10 of EMA50
• Bias: Down-Side

• Broke below the lower limit of a descending triangle; potential target near 2690.00; price bouncing up to the broken lower limit
• RSI is in downtrend since 5:00 AM on February 15 with a sequence of lower high
• Below 20-bar EMA which is below 50-bar EMA
• Bias: Up-Side

• Bollinger Band (20, 2.0) is moving down ward since 6:45 PM on February 18
• The band contracted for sometime during Asian session; and is again expanding since 4:00 AM
• RSI mostly below 65 since 12:30 PM on February 16; rising since 5:00 AM from below 20 and is just above 40
• The Stochastic (9, 1, 3): %K made a divergence at 4:15 below 20 %K reached 97.61 at 7:00 AM
• Bias: Side-Down

1. Consumer Staples
2. Industrials
3. Utility
4. Heath Care
5. Real Estate
6. Telecom

1. Consumer Discretionary
2. Energy
3. Materials
4. Finance
5. Technology