CNX Nifty 50 - Triple Screen 'Technical Analysis' - Bear Zone :- Week: 23 September to 27 September: 2013.

Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 27 Sept'13

Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 27 Sept'13

Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Aug' 2013, onward - as on 27 Sept'13

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

Patterns:

• Last week's 'High Wave' candle with high volume sweeps the Bulls off their feet #3 #4.

Support & Resistance:

• 200 SMA on the EOD was the support the Bears cracked late last week #5. 
• 5915, the 76.4% Fibonacci retrace of the 'Jan'12 low to All time high' #5 fell early last week.

Moving Averages:

• EOD - 50 SMA and 200 SMA stay crossed bearishly in a Death Cross #5. 
• EOM - Index stays above the 13 SMA #1, but the 5 EMA and 13 SMA stay Bearishly Crossed - Bearish overhang remains.

Indicators:

• STS near resistance #4.
• MACD and its MA touch - Histogram at zero #6.

Wrap:
After breaking into the Bull Zone (above the 76.4% Fibonacci retrace of the 'Jan'12 low to All time high').. Index slips below the 200 SMA.

Looking Forward into the next Week:

Patterns:

• The High Wave candlestick we studied last week (here, here or elsewhere) remains active.

Support & Resistance:

• The 76.4% Fibonacci retrace of the 'Jan'12 low to All time high' (5915) is the new resistance for the Index #5.
• 50 SMA is the next support for Bulls #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, breaks with the 5 EMA and 13 SMA crossing Bullishly - magic number Bulls need to clear in Sept'13 is 6016.

 Indicators:

• STS resistance worth a watch #4.

Wrap:

Bears need to stay below 5915 to remain in the game. Current Bull run resumes if Index gets back above the 200 SMA #5.