Monday, April 23, 2012

EOD Technical Analysis, CNX Nifty - 23 April 2012 - Back to the Wall..

Nifty - End of Day - 23 April  2012     
The Wall as we saw it was 5180, and Nifty visited it last Monday (click)., and now again come this Monday, and we have revisit.
Short Term EMAs have crossed down, we are below the critical 34 EMA (EOD as above), old channel lines are back and MACD stays sub-zero.

In our weekend post - despite the Bullish noises (click) - we had observed that the Bears may run with Global weakness (see Looking Forward) - that happened today, with Futures falling all across.
The Wall held last week, because Global mood lifted (click) - let us watch that space now also.