Last week the 2 SMA came above 5 SMA indicating the intention of the Nifty to go up. MACD signals and histograms are above 0 (bullish). Stochastic tried to cross 80 a few weeks ago and failed. This time it crossed 80 and once the stochastic signal cross over happens NS can play between 80 and 100 for a number of weeks and month. Until the MACD histograms drops below 0 the NS can be seen scaling higher and higher with intermediary dips when stochastic touches 100 and signals c/o..
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This chart was posted on July 15. It can be seen it is behaving as expected and continuing its upward journey with gap ups. It has travelled almost 500 points from the posted date as on today.