CNX Nifty 50 - Triple Screen 'Technical Analysis' - Zone Breakout :- Week: 07 October to 11 October, 2013.

Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 11 Oct'13

Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 11 Oct'13

Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Aug' 2013, onward - as on 11 Oct'13

Learning from the Past Week: (click here for the previous post)

Patterns:

• As studied last week - August and September Candles form a Bullish Harami - October Candle to-date looks like making it a Bullish 'Three Inside up' (study). 

Support & Resistance:

• 5915, the 76.4% Fibonacci retrace of the 'Jan'12 low to All time high' #5 fails the Bears early in the week.
• All time High beckons the Bulls #5.

Moving Averages:

• EOD - 50 SMA and 200 SMA stay crossed bearishly in a Death Cross #5. 
• EOM - 5 EMA and 13 SMA cross Bullishly last week - Bearish overhang lifts for now.

Indicators:

• STS resistance line, seen last week, holds back the Bulls #4.

Wrap:
Bulls clear 5915 (the 76.4% Fibonacci retrace of the 'Jan'12 low to All time high'),  All time High beckons..

Looking Forward into the next Week:

Patterns:

• The Bullish 'Three Inside Up' (study) forming on the Long Term Chart #1 - was worth a watch and continues to be focus area.

Support & Resistance:

• The 76.4% Fibonacci retrace of the 'Jan'12 low to All time high' (5915) is the support for the Index #5.
• Last 'All time high' is the resistance #5.

Moving Averages:

• 200 SMA and 50 SMA on the Day Charts remaining Bearishly Crossed #5, keeps the Bulls under pressure. 
• Bear overhang of the Long Term #1, broke with the 5 EMA and 13 SMA crossing Bullishly - the number Bulls need to stay clear of, in Oct'13 is 6003.

 Indicators:

• STS resistance line which trumped the Bulls last couple of weeks to be watched #4.

Wrap:

Bears place their hopes on the Death Cross #5 and STS Resistance #4 - Bulls eye the 'All time High' #5.