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Saturday, March 5, 2011

Its the DEATH cross baby .

Next week is really important . I mean really really IMPORTANT.  Its not always that you see a DEATH cross appearing on your charts . The NIFTY charts show that since January 2005 the death cross has formed only twice ; if we count yesterday's slight crossover . Once in May 2008 which is shown by that red arrow . yesterday the 50 EMA crossed the 200 EMA slightly .

We also see that 61.8% Fibonacci level is acting as SERIOUS SUPPORT . If that breaks , then all hell breaks loose. I think the Nifty will rally to 5679 and then head downwards confirming that death cross. And the rest of the story is known from previous experience.


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