MIDCAP 100 index has been in a trading range from the past one month.
This is very unusual for this index as it normally tends to be very volatile.
Midcaps have been weak all through this 900 point nifty rally so a correction in Nifty may trigger a deep correction in Midcap stocks.
Watchout for a breakout on either side....
-The Midcap sector showed great realitive strength yesterday when the Nifty was down and Midcaps were up. This happened after a long time.
-Sector breaking out of a falling wedge pattern on the weekly chart.
-Found support at 50% Fib retracement.
-Bullish divergence on stochastic.
-Converging MACD lines.
-Bullish divergence on...
#MIDCAP100 trading at the important level there is support at level 16,100 to 17,600 if Mid cap break level of 17,600 then we can see the level of 16,100.
#MIDCAP100 if stock able to hold the level of 17,600 then we can see the level of 20,200.
There is bullish divergence that appears on the Nifty Midcap Index, even while the Index trades near the lows the RSI is making higher lows. This is also the Index which went into correction first (in Jan),in that context the broader market may be indicative of something positive
Its weekly chart I strongly feel little correction will be in Midcap
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