NIFTY STILL IS IN NEGATIVE MACD BUT NOT INDIVIDUAL STOCKS

Our markets had a nice rally for a couple of days that ended today. In this rally the small and midcaps had a field day. wherein some of them have managed to gain 30% odd. Also some of them have come way off their lows, case in point is a stock like Indiabulls. A couple of sessions back it was lurking in the early 300s and now it is in the late 300's. I feel that even if the correction in the NIFTY might last till expiry Thursday, some of the individual stocks have seen their worst being over. The downturn in NIFTY can continue because of a couple of reasons:

A) MACD of Nifty is still negative. So strictly speaking Nifty is still not in the positive territory
B) Expiry that might have got in built lots of positions, in the negative that would again try to short the markets.

Once the expiry is out of the way then a clearer picture would emerge as to the direction the markets can take. But we can draw hope from the way some stocks have performed