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| Nifty - End of Day Chart - 17 Feb 2012 |
It was about a month ago that we defined the channel you see on the EOD above (post here). We have a precise climax at the channel top happening now - 800 odd Nifty points later.
The crossover of the 34 EMA to above the 200 DMA on the EOD has significance from a long term view. So does the 5 EMA - 13 SMA cross on the EOM mentioned last week (post here). They usually signify the return of the Bull market.
Here are some free reads on MA crossover for the weekend....
http://stockcharts.com/school/doku.php?id=chart_school:trading_strategies:arthur_hill_on_movin
http://www.traderslog.com/moving-average-crossovers/
