Update with 60 Min - 06 01 2012 - Revisit the 34EMA..Bingo!

Nifty - 60 Minute Chart - 02 to 06 Jan 2012

In our last post on this subject (here) we concluded that the Nifty was good for another go at the blue 34EMA line - world cues willing. We got the world cues with a channel break (here) and as one can see below the purple arrow head - Bulls would have anticipated the 100 point move from sub 4700 to 34EMA around 4800 !