Nifty has first MACD crossover in 1 month after brutal MACD 2 Top fall on 1D Fisher. Now it shows Green Shoot after 14th August (1month).
So what is good about it? Now 1H 2 Top is expected on MACD. And if this rise trigger 1W Fisher positive crossover, it will act as support for the Market.
Support - 1D Fisher is positive so hour MACD fall near 0 (Will be a BUY level). Remember, 4H MACD will not break when 1H MACD fall near 0. If it breaks, 1H MACD will go straight to the Bottom.
Resistance: 1W Fisher is negative, so 1H Top.
Between these Support/Resistance level, 1H Top and 1H Down near 0 will decide the trend, depending on whether 1W Fisher turn positive.
A good recovery will take time, after retest of MACD on 1D Chart. 1H is Short time frame (lasting 1-3 days, unless it breaks resistance/support, So this is not long term view.
So what is good about it? Now 1H 2 Top is expected on MACD. And if this rise trigger 1W Fisher positive crossover, it will act as support for the Market.
Support - 1D Fisher is positive so hour MACD fall near 0 (Will be a BUY level). Remember, 4H MACD will not break when 1H MACD fall near 0. If it breaks, 1H MACD will go straight to the Bottom.
Resistance: 1W Fisher is negative, so 1H Top.
Between these Support/Resistance level, 1H Top and 1H Down near 0 will decide the trend, depending on whether 1W Fisher turn positive.
A good recovery will take time, after retest of MACD on 1D Chart. 1H is Short time frame (lasting 1-3 days, unless it breaks resistance/support, So this is not long term view.
Note
After 2 Months (Heading)
"The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge." Stephen Hawking.
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.
"The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge." Stephen Hawking.
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.