the small cap is under a confluence of monthly resistance and daily tf support and also forms a double bottom.. focus on how small cap reacts the coming week.
The Portfolio Is Bleeding Day By Day..
But Enough is Enough Now..
SmallCaps Needs Some BounceBack And This Is The Best Setup One Can Find..
Pick Your Stocks Wisely ..
Diwali Sale Is Going To End Soon..
GRAB GRAB GRAB GRAB......
Looking at the small cap index, it seems it is testing the previously broken trend line. If it reverse from here, we can expect another round of rally in small cap stocks
Please note I’m not a sebi registered analyst.
Please analyse your self before investing.
Nifty smallcap has hit the trendline of 2008 and 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.
The index had taken supports at 0.618 and 0.786 Fibonacci retracement levels.
Looks like it had broken out of the resistance line.
This is not an idea to take blind positions in smallcap 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...
The retest of the breakout has happened, now a hammer formation is showing signs of recovery. This is a weekly chart, and a beautiful hammer is already in place. If next week's candle is green, we can see momentum coming back
An additional confirmation would me weekly MACD turning green.
Once the MACD turns green, we can start building positions in smallcap space.
Small caps 100 index has fallen nearly 11% reaching a decisive point in its fall. The price is currently resting on or near the daily timeframe's uptrend line (support).
The RSI is also at 30.14, which indicates a over sold signal and we may see a bounce very soon. The potential reversal zone formed by ABCD pattern's 1.618 and 2 fib extension acts as a demand...
As you can see in the chart today Small cap 100 Index has broken it's Rising Trending Line which started in Month on Nov. 2020 at 5700 and from that point we have witness a good upside till 10800.
DO remember that whenever we need to take big Jump we have to go back 2 steps.
Same is Happening in Small & Midcap Index.
Now Major Support on Small Cap is 9300 on...
Index has given Breakdown of Short Term Aggresive Trendline.
Now near previous Breakout Levels and important Support of (9824)
Breakdown of this could make it go towards long term trendline.
Nifty Small Cap 100
Facing a strong resistance ( confirmed with rejection candle on daily chart)
RSI already giving a negative divergence
Expecting more fall in Small caps
#technicalanalysis
A massive global sell-off was seen in mid and small caps in nifty in the past few trading sessions.
The nifty small-cap index had retraced to 0.618 Fibonacci levels from its recent swing high.
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 valuable comments on this analysis. Thank you.
This chart represents NIFTY/CNXSMALLCAP every time the ratio hits this trendline smallcap are likely to fall until the ratio break the trendline downside!
Smallcap index touched the 50 day EMA and broke the lower Bollinger band. The index has been nosediving since last 6 trading sessions. Is it time for a rebound?
