Nifty-EOD Chart(27-Jan-2012):-
Averages are as follows:
200-Day EMA is at-5131
200-Day SMA is at-5202
Conclusions
Short and Intermediate term trends are up and long term trend turning up confirmation will be after sustaining above 200-Day EMA as well as 200-Day SMA. Last 2 sessions closing above 200-Day EMA and testing of 200-Day SMA on 27-01-2012.
Strong breathless rally seen in last one month but last confirmation for blasing rally is left through sustaining above 200-Day SMA because Nifty got stiff resistance at 200-Day SMA 3 times earlier.
Long term trend turning up final confirmation will be after sustaining above 200-Day SMA and should be watched firstly in next week.
 |
| Just click on chart for its enlarged view |
200-Day EMA is at-5131
200-Day SMA is at-5202
Conclusions
Short and Intermediate term trends are up and long term trend turning up confirmation will be after sustaining above 200-Day EMA as well as 200-Day SMA. Last 2 sessions closing above 200-Day EMA and testing of 200-Day SMA on 27-01-2012.
Strong breathless rally seen in last one month but last confirmation for blasing rally is left through sustaining above 200-Day SMA because Nifty got stiff resistance at 200-Day SMA 3 times earlier.
Long term trend turning up final confirmation will be after sustaining above 200-Day SMA and should be watched firstly in next week.