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...
is 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
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.
CNXMIDCAP on the verge of a trend line breakout. Wait for it to cross convincingly before going big on Midcap stocks.
Case 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 28000 TAKING SUPPORT @ 61.80 PERCENT RETRENCHMENT AND CHANNEL BREAKOUT
both r trading at crucial juncture wait for a decisive break for long
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...
Will it find support at the flat line below = 12% or equal to the height of the triangle
CNXMIDCAP 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...
That should take us to multi year support line that can be traced all the way back to 2015
There 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.
Interesting. we are near. very close to what could be a turn around! a whip or straight reversal. need to see
MIDCAP index faced stiff resistance on weekly cloud, weekly trendline, and also weekly 50 dma.. looks weak.. and there is no pick up in earnings of the midcap.. be cautious if you are investing..
CNX MIDCAP AS LAST POSTED HAS TAKE DIP FROM TRENDLINE RESISTANCE NOW NEXT UPMOVE LOOKS LIKE POSSIBLE ABOVE 17800 LETS HOPE BEST WITH FINGER CROSS
CNX MIDCAP IS AT TRENDLINE RESISTANCE LET SEE HOW IT WORKS IN THIS WEEK DOES IT AGAIN FACE RESISTANCE AND CAME DOWN OR THIS TIME BREAKOUT WILL HAPPEN OUR OF SLOPPY CHANNEL