CNX Nifty 50 - Triple Screen 'Technical Analysis' - Checkmate :- Week: 09 September to 13 September: 2013.

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

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

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

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

Patterns:

• The two Takuri Weeks we had seen here and here - give the Bulls another 'Green Weekly candle' #3.
• Volume for the up-move is uninspiring.

Support & Resistance:

• 200 SMA on the EOD was the support the Bulls kept tenaciously above, last week #5. 
• 5915, the 76.4% Fibonacci retrace of the 'Jan'12 low to All time high' #5 was the resistance the Bulls could not close above, all last week.
• Checkmate for most of last week - as the Index remained between above levels.

Moving Averages:

• EOD - 50 SMA and 200 SMA stay crossed bearishly in a Death Cross #5. 
• EOM - Index closes above the 13 SMA #1, but the 5 EMA and 13 SMA stay Bearishly Crossed - Bearish overhang remains.
• EOW - 5 EMA and 13 SMA poised to deflect bearishly or cross Bullishly #3. 

Indicators:

• Indicator #2 on the Month charts show Bulls above the mid-point @ mid-month.
• STS #4 clears resistance.
• MACD above the zero line - Histogram tick down #6.

Wrap:
After running into the Takuri Line twice, Bulls clear the 50 SMA & 200 SMA...

Looking Forward into the next Week:

Patterns:

• The Double Takuri Line's effect #3 studied earlier (here and here) near end.

Support & Resistance:

• The EOD Chart shows the Bulls breaking out of the Day Channel. Throw Back to the Channel Top in Progress #5.
• The 76.4% Fibonacci retrace of the 'Jan'12 low to All time high' (5915) is the resistance the Bulls need to clear #5.
• 200 SMA on the EOD is the critical Support for Bulls #5.

Moving Averages:

• 200 SMA and 50 SMA on the Day Charts remaining Bearishly Crossed #5, keeps the Bulls under pressure. 
• 13 SMA and 5 EMA on the Medium Term #3 can see a Cross or deflection - Week Number to watch 5885. 
• Bear overhang of the Long Term #1, breaks with the 5 EMA and 13 SMA crossing Bullishly - magic number Bulls need to clear in Sept'13 is 6016.

 Indicators:

• MACD remaining above zero #6 - critical for Bulls to stay in the game.

Wrap:

Bears desperate to hold 5915. Current Bull run remains alive, above the 200 SMA.