Nifty Small Cap 50 CMP 9043
Elliott - This is a zig zag corrective pattern. To me the B wave rally is done. The C wave downfall should start from here.
Fib - Wave A and wave C are related to each other by fibs. The fib ext at 1.5 which is 8387 and Fib retracement at 61.8% at 8388 is a high probability tgt.
Oscillators - both the oscillators are below their averages. confirming the price resistance.
Conclusion - So yet another Index is showing that a correction is on the horizon. The tgt is a good 8% from CMP. This means many small cap stocks will see deep corrections.
Elliott - This is a zig zag corrective pattern. To me the B wave rally is done. The C wave downfall should start from here.
Fib - Wave A and wave C are related to each other by fibs. The fib ext at 1.5 which is 8387 and Fib retracement at 61.8% at 8388 is a high probability tgt.
Oscillators - both the oscillators are below their averages. confirming the price resistance.
Conclusion - So yet another Index is showing that a correction is on the horizon. The tgt is a good 8% from CMP. This means many small cap stocks will see deep corrections.
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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.