murthyonline
Long

NIFTY TREND

NSE:NIFTY   Nifty 50 Index
Last message with chart was how the BB and price candle behaves in weekly chart, well in advance, of this correction started from 11172 levels.
Now when we look at the monthly chart (attached) it seems the correction is over and a low is formed. This view can change if any
of the following conditions happens.

1) There must be a monthly close below 9 ema .
2) The MACD signals must cross over.
3) MACD histogram should open below 0.

Unless any of the above happens we can comfortably take it as the correction is over and a low is formed.
excellent chart !
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