NrupenM

Nifty Belthold Required for another upside

Long
NrupenM Updated   
NSE:NIFTY   Nifty 50 Index
MACD has generated crossover to denote beginning of next price cycle. In case Nifty generates a Bullish Belthold at this level new long position will open.
Two things to keep in mind
1. Bullish position will not open without bullish belthold so not advised to go long before you see an actual belthold.
2. The price cycle in formation is 3rd price cycle, price cycles generated after second cycles are highly susceptible to whipsaws so entry without proper trailing SL is not recommended.
Comment: The signal is on 11;45
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.