Key Highlights: Nifty Smallcap 250 Index
✅ Bullish Head & Shoulder Breakout
✅ Neckline at 15,000 – Critical Psychological Level
✅ Price Trading Above 20 EMA – Short-term Trend Turning Bullish
✅ RSI Gaining Strength – Momentum Supporting Upside Move
Chart Pattern Analysis:
The NIFTY Smallcap 250 has formed a classic bullish inverse Head & Shoulder pattern, signaling a potential trend reversal. Today, the price is breaking above the neckline at 15,000, which is a key psychological resistance level.
A decisive closing above this neckline with a strong bullish candle will further validate the breakout, indicating a potential upside continuation.
Technical Indicators:
📌 20 EMA Crossover: Price is now trading above the 20-day Exponential Moving Average (EMA), confirming a short-term bullish trend shift.
📌 RSI Momentum: The Relative Strength Index (RSI) is heading towards the bullish zone, showing increasing buying strength and momentum. A move above 60 could further fuel the rally.
📌 Volume Confirmation: A surge in trading volume will add strength to this breakout, confirming buyers’ interest in small-cap stocks.
✅ Bullish Head & Shoulder Breakout
✅ Neckline at 15,000 – Critical Psychological Level
✅ Price Trading Above 20 EMA – Short-term Trend Turning Bullish
✅ RSI Gaining Strength – Momentum Supporting Upside Move
Chart Pattern Analysis:
The NIFTY Smallcap 250 has formed a classic bullish inverse Head & Shoulder pattern, signaling a potential trend reversal. Today, the price is breaking above the neckline at 15,000, which is a key psychological resistance level.
A decisive closing above this neckline with a strong bullish candle will further validate the breakout, indicating a potential upside continuation.
Technical Indicators:
📌 20 EMA Crossover: Price is now trading above the 20-day Exponential Moving Average (EMA), confirming a short-term bullish trend shift.
📌 RSI Momentum: The Relative Strength Index (RSI) is heading towards the bullish zone, showing increasing buying strength and momentum. A move above 60 could further fuel the rally.
📌 Volume Confirmation: A surge in trading volume will add strength to this breakout, confirming buyers’ interest in small-cap stocks.
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.
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.