As you can see in the chart today Small cap 100 Index has broken it's Rising Trending Line which started in Month on Nov. 2020 at 5700 and from that point we have witness a good upside till 10800.
DO remember that whenever we need to take big Jump we have to go back 2 steps.
Same is Happening in Small & Midcap Index.
Now Major Support on Small Cap is 9300 on...
Multi-Year Breakout above 5 Year Resistance of 89
Huge Gap in Weekly Charts filled after 5 years and 3rd Breakout Attempt
Short Term Tgt : 103 - 113 - 121
Time Frame : 1- 3 Months
Long Term Tgt : 160
Time Frame : 3 - 12 Months
R:R - 1:5
SL : 76
Golden Cross Over & +ve RSI Divergence
CMP = 405 is ATH.
Breakout confirmed from Ascending Channel Pattern
Ready to Rally 24% and test its Multi-Year Trend Line Resistance
Target : 496
SL = 356
Golden Cross Over signals very Bullish Phase ahead
Breakout of Ascending Channel Pattern with Huge Volume
CMP at All Time High
Possible Upside : 40%++
Next Levels : 682 & 800
SL : 450
Golden Cross Over confirmation signals very Bullish Trend Ahead
Part of the #NiftySmallCap100 Watchlist to participate in Rally
In coming weeks
Nifty Small Cap 100 may make new ATH above 9656.
From here a swift Potential Rally of 15% ahead till 10044.
Golden Cross Formation on WCB >> Very Bullish Signal
Watchlist to participate in Rally
Investment Pick !
CHART PATTERN !
Follow Chart Instruction.
Do not be Hurry for entry.
Wait for Proper Entry Setup.
Buy/Sell with Best Risk Reward.
Educational Chart Only.
Wait for entry setup, if available then Long/short.
Nifty Small Cap is still almost 50% down from the high of Jan 2018. Its facing short term resistance in the trend line. Some of the small caps have shown signs of recovery. The index will try to scale back to previous high of 2018 in coming years. Choose a good smallcap with healthy balance sheet and undervalued. Many small caps P/E are available from 8-15. Ride...
It looks like we are almost at the ned of the pain for small caps. I say almost because if this level brekas we may have another 10 to 15% of fall in small cap index and a 5% fall in NIfty to watch out for