Moving Average studies on the Nifty.

Arvind Sahu, our subscriber and chart reader, wrote to me:
thanks for your update in daily newsletter for article “death cross”. what i understood, i showed in chart. DJIA index has crossed death cross. which may hold true as according to fibonacci ret. its resistance lavel is at 10100 to 10230. and is in resistance zone presently. now 50 MA has death crossed 200 MA which means DJIA index may fall once again. third study of elliot wave also suggest that DJIA index is at wave 2, on first sign of weakness entering into this level could be advisble to play for wave 3 to wave 5.

now as indian market also follow the Americans. But the picture is not clear in nifty yet. as all the MA ie. (50 MA, 127MA and 200 MA) are nearing (approching) each other. if DJIA index falls, very little work for 50MA in nifty require to cross 200 MA.

please comment
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The two charts are given below. Readers should please comment.