The index is bullish as the 30 day moving average of 1,388.88 is above 120 day moving average of 1,366.65. The last cross over happened on Aug 08, 2012 with the direction of up. If the index is breaking down and goes below 1,398.04, we should consider it as a short term sale signal.If the index is breaking out and goes above 1, 426.68, we should consider it as a short term buy signal. More analysis, please visit http://stockmarketsignals.blogspot.com