@ NIFTY 50 IN A LONG TERM BREAKDOWN ?
NIFTY 50 ANALYSIS OF MONTHLY CHART
i) Price Action forming a Round Top
ii) MACD above Zero Line
iii) MACD looks on the verge of Bearish Cross over .
iv) MACD Line pointing downwards
v) MACD histogram ; Smaller Light Green . Looks like it could go Red in any moment .
vi) RSI forming lower lows
MACD did a Bullish Crossover on 14th of March 20 and took market in a long term Bull Phase . Will MACD bearish Crossover mean a long term Bearish Trend ?
The month of April is very critical .
Should the MACD do a bearish crossover and give a closing below March low of 15724 we could be in a long term Bear Market .
Caution :- Rounding Tops in a Bull Market have 58% probability ( Source Encyclopaedia of Chart Patterns by Thomas Bulkowoski ) of Bullish Breakout .
I am not a SEBI registered advisor .
Please do your own research and your own due diligence .
i) Price Action forming a Round Top
ii) MACD above Zero Line
iii) MACD looks on the verge of Bearish Cross over .
iv) MACD Line pointing downwards
v) MACD histogram ; Smaller Light Green . Looks like it could go Red in any moment .
vi) RSI forming lower lows
MACD did a Bullish Crossover on 14th of March 20 and took market in a long term Bull Phase . Will MACD bearish Crossover mean a long term Bearish Trend ?
The month of April is very critical .
Should the MACD do a bearish crossover and give a closing below March low of 15724 we could be in a long term Bear Market .
Caution :- Rounding Tops in a Bull Market have 58% probability ( Source Encyclopaedia of Chart Patterns by Thomas Bulkowoski ) of Bullish Breakout .
I am not a SEBI registered advisor .
Please do your own research and your own due diligence .
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