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Wednesday, March 28, 2012

EOD Technical Analysis, CNX Nifty - 28 March 2012 - Pull back to Channel Bottom..

Nifty - End of Day - 28 March  2012     
Our weekend take (click here for post) was that the Nifty would take support at the 200 DMA if it broke below channel bottom...Nifty has stayed 25 odd points above the 200 DMA after breaking the channel bottom - green line.

The index also pulled back to the green line and fell again. Going forward, the immediate range to break is the 200 DMA to 5 EMA.