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Wednesday, August 8, 2012

Golden Cross on Nifty!

Another Golden Cross happened on Nifty on 27th July 2012. Golden Cross is a significant technical event, when 50 SMA crosses over 200 SMA on EoD charts. This often marks the start of Bull Run on most markets.

In past 10 years of Nifty history, only two Bullish Crossovers, i.e. Golden Cross have failed and one failed recently, when crossover in month of March, 2012 failed to sustain. This is second Golden Cross this year and hopefully strong Bull Run should start in next couple of months. Pls see the chart below:

1 comment:

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