Nifty' technical view following the Trend,momentum, MA,Price channeland oversold conditions. The trend intact with the MACD above the zero line, it is bullish,but the momentum is decreasing. Price broken from the channel & EMA89 support both and theRSI oversold can be there for any long time. Out of all marked conditions followed for bull run to continue, all ends here.
Negative MACD values indicates when the slow EMA is below the fast EMA. ie: The momentum is decreasing.while MACD above zero line indicate the trend is following bullish is the only hope, in the shown analysis.