Wednesday, July 25, 2012

EOD Technical Analysis, CNX Nifty - 25 July 2012 - Welcome back, Golden Cross

Nifty 50: Short Term View (or) Day Chart, line chart of closing Prices  (or) EOD Chart:
CNX Nifty 50 - End of Day (EOD) Chart - 25 July, 2012.
              Above is the Day Chart - EOD - analyzing Data from May 2012, onward.                

Tommorow the 200 SMA and 50 SMA will cross Bullishly - see chart above.
The last two crosses of this critical MA combo - produced precious little for either Bulls or Bears in terms of Upside or Downside.
However one studies this cross, bearing in mind its popularity and therefore significance.

The Last Bearish Cross was accompanied by a Bullish 'Three outside up' on the EOW (click for post).
We therefore called (correctly) that its effect would be delayed.

This Bullish Cross or Golden Cross occurs with the Index taking support near the spot marking the cross.
The Index has also fallen heavily after a neat Pullback.
So one looks forward to the new Series and Month close, to call this one.