CNXMIDCAP trade ideas
Midcap sector is due for some correctionMidcap sector is due for some correction -- upcoming 2 weeks should be closely observed. Aggressive longs should be avoided now. We may see profit bookings.
CNX MIDCAP 100 Elliot Wave Analysis Flat Correction labelled as A-B-C structure
Since the final wave of a flat subdivides into fives waves.
In flats, waves A & B are never triangles & rarely flats.
Wave B usually retraces at least 90% of wave A.
There are 3 types of flats: regular, expanded, & running.
The most common type of flat is the expanded flat.
NSE:CNXMIDCAP
NIFTY MIDCAP.. crucial zoneNIFTY MIDCAP idex is at important support zones in its life long chart.
trendline supports in red and support zones in blue are marked...
be cautious..
NIFTY MIDCAP 100, Trend line support very nearWill the bigger up wave start from here ? And proceed to its all time highs ?
Nifty Midcap 100 Index, much stronger than NiftyIt is wise to focus on quality midcap stocks , than the broader index.
The Thursday correction has not impacted this index much, strong uptrend is intact.
NIFTY MID CAP VIEWNIFTY MIDCAP 100- Probably this has bottomed out and its trying to move up....
Bounced from 0.618 fib level and now its finding some decent support on 0.5 fib
Plus its breaking the trend line resistance.
If you are interested, better start keeping an eye on these.
Hope this helps.
Cheers!!!
?Nifty Midcap 100 - Breakout ready ?Hi
Nifty Midcap is attempting yet another breakout of a strong channel that acted as resistance multiple times. The recovery here has been weak compared to LargeCaps and hence a breakout may be sold into. What happens thereafter is the key.
If midcaps dont correct muach in the next wave of correction of Nifty, the set up is such that in the next rally, Midcaps should make a clean breakout
Regards
Srikanth
CNXMIDCAP VS NIFTY50is this the right time to look at broader markets now when there is a larger possibility of difference getting narrowed? just wondering..few stocks have already started the move
Mid Caps showing signs of recovery. Shopping List!The MID Cap index took support and bounced back. The level from which the index bounced was very strong inflection point. Two back to back bullish candle with good volumes indicates real interest in the stock. Moreover there is a long term positive signal in RSI and MACD is positive with bullish bias. All these indicate that mid caps may pick up pace in coming weeks.
CNX MID CAP on verge of breakout!CNXMIDCAP on the verge of a trend line breakout. Wait for it to cross convincingly before going big on Midcap stocks.
CNX Midcap - Bears have max 1month to show their mightCase 1 : Bears come back - Midcap index falls further by 25-30% & new high occurs in 18-20 months ( March 2021) thereafter
Case 2: Bulls take charge from here on & index hits / crosses new high in 10-13 months ( Aug-Oct 2020)
NIFTY MID CAP 100 = TARGET 28000NIFTY MID CAP 100 = TARGET 28000
TAKING SUPPORT @ 61.80 PERCENT RETRENCHMENT AND CHANNEL BREAKOUT
More Correction Mid cap 100 have made a fast run in the past
making an contracting flat in the middle ( wave 2) and jumped the Guns ,
Now the current drop is very slow and it shows clear indication that it will high likely will make one more drop before making an turn around
I am plotting on the best possible pattern suites to current price move ,
I am looking the end of wave 4 will initiate an strong move up side
Wait for correction in this segment or go for sip on every dip
Small Accumulation in segment scrips can give you some time leverage and finance on controlled investments
Look for Buying opportunity once it completes , selling at this stage would be not advisable
Descending trendline breakdown ?Will it find support at the flat line below = 12% or equal to the height of the triangle
Midcap fall likely to continueCNXMIDCAP index broke below curcial support level of 16150 to continue its downward journey towards next support level of 14100. Trade on the short side.
Current level is 15700 with target of 14100 and stop above 16150 gives a risk:reward ratio of 1:3.55
Though we cannot directly trade midcap index similar to nifty and banknifty.. Point is to select midcap stocks on the short side rather than trying to catch falling knife.
NiftyMidcap . Another 11% fall at maxThat should take us to multi year support line that can be traced all the way back to 2015
Midcap Index approaching danger necklineThere is a Head and shoulder setup on Cnxmidcap weekly chart.
The neckline is forming around 16000 - 16300 zone. It should not breach that level and give weekly close below than that.
Otherwise it will open up 2000 points downward space.
Ofcourse Midcap index is not trade-able directly. However many people are routing their money through SIPs in many Midcap funds.
