Nifty Smallcap 250 Double Top or New Bull

If this index is observed, price has taken support of 23.6% Fib level of pullbacks twice after significant rise since 2020.

Currently price is near the 261.8% Fib Level (15259.65) drawn between Jan 17 '22 top to Jun 20 '22 bottom

So far price couldn't break that resistance. Feb 5th and Apr 8 in weekly chart. Last 4 days in daily chart also isn't convincing. 15444 Pivot R1 needs to be broken.

Nifty Smallcap 250 index showing bear sign

Comment:

New Bull run is emerging

Comment:

There was 525 days consolidation between Jan 17 '22 and Jun 20 '23 after rising from 23.6% Feb level on Jun 20 '22 bottom. After breaking out Jun 20 '23, price rose till 261.8% Fib Level.

Whereas this time, correction and revival back was short. Just 75 days. V shape recovery. Probably may not exceed 161.8% Fib Level 17K if this breakout is successful