TO READ THIS WEEK's POST CLICK HERE...

Monday, October 10, 2016

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Harami - Week 2 of October 2016.









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

Patterns:

Last week's action triggers a "Bullish Harami'  #WeekChart1.

Support & Resistance:

Day Fork's middle Tyne sends back the Bulls #DayChart1 
Index closes just below the 50 MA #DayChart1.

Moving Averages:
The critical EMA 5, bearishly below the MA 13 on all except month screen #MonthChart1
.

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


Wrap: 
Bears close below the 50 MA #DayScreen, Bulls produce a Bullish Harami #WeekChart1.



  

Looking forward into this Week:


Patterns:

Bullish Harami is active on the week charts (Study links herehere or elsewhere)  #WeekChart1. A close above 8698 this week, triggers a 'Three inside up'

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 below zero #Day
Chart2.


Wrap:
Bears look to stay below the 50 MA and fall below the Day fork #DayChart1.
Bulls want more green with a weekly close above 8698 #Weekchart1.