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Monday, October 3, 2016

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Marubozu - Week 1 of October 2016.










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

Patterns: 

Previous Fork breaks, Bears celebrate as index falls below 8804 #DayChart1. Week candle is a Marubozu #WeekChart1.
Support & Resistance:
Index takes support at the 
Bottom Tyne of the new Day Fork #DayChart1. Resistance was near 8804.

Moving Averages:
The critical EMA 5, bearishly below the MA 13 on all screens #DayChart1
.

Indicators: 
The STC stays, well above the 76% Fibonacci retrace #
MonthChart2.


Wrap: 
Index breaks below 8804 and falls fast to the previous weekly low #WeekChart1.



  

Looking forward into this Week:


Patterns:

Last week's candle the Opening Black Marubozu is active (Study links here, here or elsewhere)  #WeekChart1.

Support & Resistance: 
Bottom Tyne of the Fork on the Day chart is the first support #DayChart1. The Middle Tyne of the Week Fork is the resistance.

Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen 
#DayChart1.

Indicators:
The MACD and its histogram, are diving below zero #Day
Chart2.


Wrap:Bears make a change with a break from the previous 6 green months #MonthChart1.

Bulls want a comeback with a weekly close above 8636 #Weekchart1.