CNX Nifty 50 - Triple Screen 'Technical Analysis' - Week: 22 October to 26 October, 2012. - Bears perk up..

Nifty 50: Long Term View (or) Month Chart, each candle is 1 month's price action (or) EOM Chart:

CNX Nifty 50 - End of Month (EOM) Chart - 26 October, 2012.

 Above is the Month Chart - EOM -  analyzing Data from 2008 onward.

Nifty 50: Medium Term View (or) Week Chart, each candle is 1 week's price action (or) EOW Chart:

CNX Nifty 50 - End of Week (EOW) Chart - 26 October, 2012.

Above is the Week Chart - EOW -  analyzing Data from Mid 2011 onward.

Nifty 50: Short Term View (or) Day Chart, line chart of closing Prices  (or) EOD Chart:

CNX Nifty 50 - End of Day (EOD) Chart - 26 October, 2012.

Above is the Day Chart - EOD - analyzing Data from July 2012, onward. 

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

The 5 EMA on the EOD (5) which looked ready to cross Bullishly above the 13 SMA - in our study last week - makes that cross and so the Bulls kept it steady until settlement.
Bulls find support on the 5 EMA on the Week Chart (3).
The signal line remained below the MACD line (6), all last week.
Bears break the Blue Center line of the EOD Channel, in post settlement moves (5).

The red Support-Resistance line gave support to the Bulls again (4).

The short fuse indicator (2) remains turned down, indicating the effect of this month's candle, to-date.

STS in oversold (4) indicates Bull power.

Month candle remains red (1).

Looking Forward into the next Week:

A massive Pullback to the Monthly Channel's Green bottom line (1) - is the still the Bull agenda.

Using the red support-resistance line on the on the STS (4), for a bounce back would be the Bull hope.
Getting the Index below the 5 EMA on the Week Chart (3) is critical for the Bears.

The 34 EMA on the EOD (6) is the next support for the Bulls.

The 5 EMA on the Day chart (5) - is again poised to move below the 13 SMA - something to watch out for.