This week sell off was triggered by SEBI chairman's statement about a bubble in small caps and midcap . In this video , i discuss about the possible outlook for small caps and midcaps and should you stay invested ?
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BSEMIDCAP Index(Bearish) : Double Top Pattern ? as highs of Oct 2021—Dec 2022 are coinciding.
Neckline around 21200 and CMP 23632 i.e., 10% downside is on cards
S&p BSE MIDCAP INDEX- time ripe for consolidation aka correction.
An observation of Monthly charts of S&P BSE Midcap index reveals that its ripe for a consolidation cum correction for a periods of 15-18 months from Today i.e May 2022. So reasonable to say time for super cycle growth can start from 2024-2026 for tgt of 38000-50000.
61.8% retracement for the entire...
#BSEMIDCAP (weekly)
resistance around 15000 and then 15600 crossover of which expect move toward Life time high
downside support 13500
so buy good quality midcaps in correction of 10500-14300 and keep sl of 13500
DIsclaimer... not position on the index.. a reference chart for my investments in mid and small caps..
suspicion of reaccumulation , should be confirmed by the post spring change of character towards sos/markup..
else as mentioned the 52week ema change of character towards a resistance will potentially make this as a distribution schematics...
proceedings will...
