Many traders even after few years of experience in trading are still struggling to make money. They have improved their technical knowledge. They know when the price is going to give big move, but still unable to make use of that knowledge. Why?
When you are improving your technical knowledge, developing your trade set ups, are you increasing your trading...
Bearish Engulfing chart pattern in Niftymidcap100
Nifty midcap stocks are under pressure if trend line is broken there might me maximum 5to6 % profit booking from current levels
NIFTY midcap index has hit trendline resistance of 2008 -2018. after touching these levels in the past the small cap index has corrected very sharply. one should book profits and lighten their positions. the RSI has also reached close to 80 levels on the monthly charts. it indicates it has been overbought
CRASSHHHHHH!!!!!! when everyone was shouting this, we were waiting for this trendline to hold and guess what guys, it did. SHAKE OFF looks like this but to be safe we will still wait for the follow up candle and start buying shares. SAFE TRADING!!!
The nifty midcap index had broken out of the resistance line.
This is not an idea to take blind positions in midcap stocks. If you are holding such stocks you can continue to hold as the index performs well now.
Fresh positions can be taken after careful analysis of technicals in individual stocks.
Looks to be profit booking till now.
Aggressive Selling will come on break of 27000
Which can then make it move towards long term trendline. Keep n eye.
21/8/21
- In trending market the index has taken major supports from 50ema multiple times
- Next support zone if 27000 is broken on closing, next support on 26500 levels
- Oscillators also going near OS zone, keep an eye
A massive sell-off was seen in almost all scripts of mid and small caps in nifty in the past few trading sessions.
The Nifty mid-cap index had retraced to 0.618 Fibonacci levels from its recent swing high, similar to the small-cap index.
We can see that the index had taken clear support at this level. I hope for a new swing from this level.
Please give your...
Midcap and smallcap stocks are in a correction right now and many of our portfolios have midcap and small caps so don't panic anyone, it is just a correction and it is a part of the stock market. Stay calm, Stay invested and invest in fundamentally good midcaps and smallcaps. If anyone wants to buy fresh, they can definitely do it and accumulate good stocks in...
We have broken out and we are in a raging bull market for sure. But timely corrections are always possible.
This trendline will be valid for all future corrections.
Keep an eye on it.
- There is RSI divergence on weekly time frame
- Also on the same time frame there seems to be formation of a Rising Wedge Pattern
- The "horizontal" trendlines and the box can assumed to be key support levels before further movement
