Tuesday, May 1, 2012

EOM Technical Analysis, CNX Nifty - 29(30) April 2012 - Update

Nifty - End of Month - 30 April  2012     
This is an update to our Weekend Study (click).
The April 2012, month closed yesterday and on a Bullish note.
Close was above our mark of 5220, and we should see the Short MAs (5 EMA / 13 SMA) bullishly crossed over, when the next candle appears tomorrow. 
This cross is valid above 5199 for the month.
The Bears can still look forward to the "Three inside down". Studied last weekend.
If Nifty stays above the Wall for the month (5189) and better, above the 5199 - Bulls are safe.