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Tuesday, March 6, 2012

EOD Analysis CNX Nifty - 06 03 2012 - Bears pull UP their act..

Nifty - End of Day - 05 March  2012
Above one can see the action as of EOD yesterday - Monday 05, March 2012, the Price settled exactly on the 34 EMA, our range's lower end.
As mentioned in the weekend analysis (see 'Looking Forward') - after one day and half (today) of consolidation and some strong Fundamental cues, the index has broken out of our range on the lower side - see chart below...
The 200 DMA is the next support, about 50 points below today's close and our range's lower end as of now..

Nifty - End of Day - 06 March 2012