Normally, I do not write about Moving Average (MA) cross over. This time, I thought to add it to what I posted before. It is not to mention about MAs, but to show a typical behavior of NIFTY.
In the main chart, at Point A, NIFTY closed below both MAs. Retested it to A1 only to fall again.
A similar action was done at B and B1. At B, it shot above both MAs, re -tested and rallied.
Now we are at point C-C1. At C, NIFTY closed below both MAs, re-tested to C1 and formed the first red Bar.
It does support my views in my earlier posting.
A zoomed view of the latest action is also on the inset to help you to see it better.
This phenomenon does support my views expressed in the last posting.
So… Guess what is store for next week…
