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| Nifty 50 - End of Month (EOM) Chart - Channel analyzing Data from 2008 onward - as on 03 Nov'13 |
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| Nifty 50 - End of Week (EOW) Chart - Channel analyzing Data from Mid 2011 onward - as on 03 Nov'13 |
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| Nifty 50 - End of Day (EOD) Chart - Channel analyzing Data from Aug' 2013, onward - as on 03 Nov'13 |
Learning from the Past Week: (click here for the previous post)
Patterns:
- As studied last month - August and September Candles form a Bullish Harami (Study Link here, here or elsewhere) #M1. October closed above September giving the Bulls a 'Three Inside up'.
Support & Resistance:
- Bulls keep above the Channel middle on the EOD #D1 - which was support last couple of weeks.
- All time High (ATH) #D1, was resistance last week.
Moving Averages:
- EOD - 50 SMA and 200 SMA cross bullishly in a Golden Cross #D1.
- 5 EMA on EOW #W1 was the support for the Bulls.
- STS reaches the over bought - resistance of the previous weeks is now support #W2.
Wrap:
Bulls flirt with the All time High bearing a Golden Cross ..
Looking Forward into the next Week:
Patterns:
- October closing above September's close makes it a Bullish 'Three Inside up' (Study link here, here or elsewhere).
- The 34 EMA is last major support for the Bulls #D1.
- Week channel top #W1 is a pretty decent resistance for Bulls.
- 50 SMA getting above the 200 SMA (at last!) #D1 makes a Golden Cross (study here, here or elsewhere) and gives the Bulls some verve to attempt a new ATH.
- STS resistance line becomes a strong support on the way down #W2.
Wrap:
Bulls eye the 'All time High' after the Golden Cross #D1 - Bears dig in, to hold the ATH near the Week channel top #W1.
