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| Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 25 Oct'13 |
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| Nifty 50 - End of Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 25 Oct'13 |
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| 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.
- 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 here, here or elsewhere) - with a week to go for the month close, Bulls can smell the grass.
- 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.
- 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.
- 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.
