1) Followed by the SmallCap, MidCap is also under the strong selling pressure.
2) Currently It took the support at the trendline. If It breaks down the level of 45600 & closes below the trendline then It will lead to another 4.5% fall.
3) There's a Probability that MidCap may bounce from it's current level and lead the next uptrend.
Midcap Correction How to Play
Nifty Midcap is entering a correction and is currently is the weekly demand zone 1 if the index breaks 43243 this is where we need to do some average of our midcap stock positions.
Again average at 41726
Last Average at 39922 as this demand should hold.
Please check the individual fundamentals of the stocks
MIDCAP INDEX if breaks Top Trend Line then Big Upmove can expect......
IF BOTTOM SUPPORT line breaks then BILL FALL will comes..........
Keep Tracking of your PORTFOLIO.......
MIDCAP Nifty is showing signs of bouncing back as it consistently finds support and resumes its upward trend along the trendline. Consider buying opportunities when it bounces off the trendline support. Keep a close eye on the trendline for continued support.
Hello dear friends,
I hope this message finds you well and in high spirits!
I wanted to share some insights with you regarding the current market situation. It seems that trading in CNXMIDCAP can be quite risky at the moment. As you can see from the chart above, although the price is reaching new highs, the RSI is not following suit. This is a clear divergence...
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
NIFTY MID CAP SPOT CMP 47500
Weekly time frame
Ascending parallel channel structure
Index is trading around resistance zone as per structure trend line
Equivalent measured move done which confluence around resistance zone as per channel
Bearish divergence on RSI with respect to price action.
Fibbo extension of 2.618% done which is the max extension in history of...
Hello and welcome to this analysis
The index has always performed in line with the Nifty except in the brief period of 2018-2020 when it underperformed.
Currently attempting to break above the rising trendline formed in the Monthly time frame with crucial support near 42000 and next resistance near 45000
Check out the outlook of the Nifty Small Cap Index from...
MIDCAP INDEX near SUPPLY ZONE & Downward Trend line Resistance
Gaps formed.It may touch the SUPPLY ZONE and reverse back to Gap zones.
OR
May cross the SUPPLY ZONE and touch the next SUPPLY ZONE
For the first time since March, the Midcap index made a lower low, breaking the shelf support and leading the weakness. The much-awaited correction in mid and small caps is here now.
Nifty Midcap 100 is at Monthly parallel channel resistance.
In the past Nifty midcap 100 monthly RSI has crossed 79, 7 times and every time we have seen a descent correction. Currently, the Monthly RSI is near 78 again.
Year Correction
2004 27%
2005 13%
2006 38%
2008 68%
2015 16%
2018 50%
2022 25%
The Nifty Midcap space has shown constant Green candles for the...
This is nifty midcap index chart on monthly time frame.
Tried counting since its inception.
Looks like one complete set of WXYXZ (tripple correction) is complete here or is about to complete.
Some sort of crash is what I am expecting in near future.
Stay alert
All the best
This is not the first time since March 2023 that the NIfty Midcap 100 index bottomed near the 20dma. It is doing so again today. Next time we may or may not be so lucky but this is what has been happening. The two day dip means that the RSI at 60-65 is not oversold anymore on daily charts. Weekly charts may still be above 70 for a while.
price was in upstrend following higher high and higher low
on friday price broke the higher low, it was the first sign of trend change
on momday it was like pullback as price made internal (lower time frame higher lows)
but got resisted at fib 0.5 projected from recent high to recent intraday low or friday low
as smart money concept if the pullback has to...
Nifty midcap index is showing bullishness on a W timeframe with no signs of sluggishness week after week.
The next resistance looks to be at 41000.
However traders can thread with caution as there could be some consolidation before further movement.
