In the Nifty 50 DMA has crossed below 200 DMS. This is potentially bearish. But like all other things in technicals it is not a 100% confirmed indicator. We need to see Nifty breaking down below 5400-5600 range and also below 5175 before getting bearish on the market.
Right now we have been in 5400-5600 zone for over 2 weeks and so a big move in the Index is expected. Which direction it will happen that the market will guide us. So have a close eye on the 5400-5600 region.
Thursday, March 17, 2011
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