CNX Nifty 50 - Triple Screen 'Technical Analysis' - Long Term 3 inside up ? :- Week: 14 October to 18 October, 2013.

Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 18 Oct'13

Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 18 Oct'13

Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Aug' 2013, onward - as on 18 Oct'13

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

Patterns:

• As studied last couple of weeks - August and September Candles form a Bullish Harami #M1 - October Candle to-date looks like making it a Bullish 'Three Inside up' (study). 

Support & Resistance:

• Bulls keep above the 5 EMA on the EOD #D1 - which was support last week.
• All time High beckons the Bulls #D1 and is the next resistance.

Moving Averages:

• EOD - 50 SMA and 200 SMA stay crossed bearishly in a Death Cross ##D1. 
• EOM - 5 EMA and 13 SMA cross Bullishly above 6003 #M1 - Bearish overhang lifts for now.

Indicators:

• STS resistance line, seen last week, fails to hold back the Bulls #W2.

Wrap:
Bulls cleared 5915 (the 76.4% Fibonacci retrace of the 'Jan'12 low to All time high'), the week before and move towards the  All time High ..

Looking Forward into the next Week:

Patterns:

• The Bullish 'Three Inside Up' (study) forming on the Long Term Chart #M1 - continues to be focus area.

Support & Resistance:

• The 76.4% Fibonacci retrace of the 'Jan'12 low to All time high' (5915) is the support for the Index #D1.
• Last 'All time high' is the resistance #D1.

Moving Averages:

• 200 SMA and 50 SMA on the Day Charts remaining Bearishly Crossed #D1, keeps the Bulls under pressure. 
• 50 SMA gets closer to the 200 SMA #D1, over the last week - Golden Cross watch on...

 Indicators:

• STS resistance line which trumped the Bulls last couple of weeks breaks #W2.

Wrap:

Bears place their hopes on the Death Cross #D1 - Bulls eye the 'All time High' #W1.