Mac D here in this chart is enlarged pourposly as the cross over below signal line should be seen clearly. Yesterday after a month Mac D had Crosse below signal line. Mac D is a laggard indicator which is boon too. After reaching top of 10768 on 7 and 8th June nifty had broken down the two and half month uptrend.,(white Line). At same time Mac D had given a sell signal. If on Monday follow up selling is seen then it is to be taken as trend is reversing. Confirmation will come if 20 DEMA also is given up, which is at 10424. Below 18400nifty can reach 18000 where 50DEMA is placed.
The above analysis are if and buts and targets are seen on chart and understood, if 20DEMA broken then 50DEMA will come. But it's not necessarily nifty should act as chart is showing.
Wether nifty will break all support at this time is partly depending on news which are in que next week.
CPI Data WPI data and Fed interest rate decession, and DOW reacting on it.
Above are given levels to watch after all news, nifty is breaking and remains below all supports. If so then nifty is on it correction course. Or else upper level can be seen if 17876double top is broken.
The above analysis are if and buts and targets are seen on chart and understood, if 20DEMA broken then 50DEMA will come. But it's not necessarily nifty should act as chart is showing.
Wether nifty will break all support at this time is partly depending on news which are in que next week.
CPI Data WPI data and Fed interest rate decession, and DOW reacting on it.
Above are given levels to watch after all news, nifty is breaking and remains below all supports. If so then nifty is on it correction course. Or else upper level can be seen if 17876double top is broken.
