Monday, October 28, 2013

CNX Nifty 50 - Triple Screen 'Technical Analysis' - 'Golden Cross' watch 1 :- Week: 21 October to 25 October, 2013.



Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 25 Oct'13



Nifty 50 - End of  Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 25 Oct'13



Nifty 50 - End of  Day  (EOD) Chart - Channel analyzing Data from Aug' 2013, onward - as on 25 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  (Study Link here, here or elsewhere) #M1. October close above September makes it a 'Three Inside up'.
Support & Resistance:
  • Bulls keep above the Channel middle on the EOD #D1 - which was support last week.
  • All time High (ATH) beckons the Bulls #D1 and the ATH 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.
Indicators:
  • STS reaches the over bought after clearing resistance the previous week #W2.


Wrap:
Bears manage a red week even as the Bulls attempt to reach the All time High ..



Looking Forward into the next Week:

Patterns:

  • October closing above September's close makes a Bullish 'Three Inside up' (Study link herehere or elsewhere) - with a week to go for the month close, Bulls can smell the grass. 
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 in a Death Cross  (study here, here or elsewhere) #D1, keeps the Bulls under pressure. 
  • 50 SMA gets close to the 200 SMA #D1 - Golden Cross (study here, here or elsewhere) is on in the coming week, at current rate of climb.
 Indicators:
  • MACD and its MA look like they could cross Bearishly anytime #D2.


Wrap:
Bears place their hopes on the Death Cross staying on #D1 - Bulls eye the 'All time High' and a Golden Cross #D1.