|Nifty - End of Day Chart - 17 Feb 2012|
It was about a month ago that we defined the channel you see on the EOD above (post here). We have a precise climax at the channel top happening now - 800 odd Nifty points later.
The crossover of the 34 EMA to above the 200 DMA on the EOD has significance from a long term view. So does the 5 EMA - 13 SMA cross on the EOM mentioned last week (post here). They usually signify the return of the Bull market.
Here are some free reads on MA crossover for the weekend....