Nifty Daily Update

NSE:NIFTY   Nifty 50 Index
298 1
In continuation of earlier posts, the NS closed below the trend line for the first time today. The 2/5 MA c/o done indicating correction.
The MACD signal is still above 0 and histograms though becoming smaller standing above 0. Now if the MACD signals cross over the
correction can extend to 11254-60 levels. But by looking at the earlier instances the chances for making a green candle tomorrrow and the
5/2 cross over towards the upside negating today's trend reversal possible. This area also indicate the second red circle mentioned
in the daily chart a couple of weeks ago, so this small correction and side ways movement was expected to happen.
Whats the update on this one? and what this curve represents ? thanks
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