On weekly formation, Dragonfly doji candlestick at support level (downtrend) which is giving sign of reversal wherein the closing price has managed to reach up to opening price. Probably, Indication of relief in coming week!
After the recent correction in feb and mar month, most of the sectoral indices showing hidden bullish divergences in weekly time frame. They are:
small cap
mid cap
realty
energy
commodity
consumption
service
So we may expect a good recovery from the current dip and continuation of the medium term ...
SMALLCAPINDEX : Will the previos tops give a nice support and a U turn possiblity
Yes to be seen, but if this gives away then strap yourself up for a deeper dive in coming weeks
This on request from Avoudhut2411 . The Smallcap Index seems to have moved up in clear 5 waves. We cannot be completely sure that wave 5 is complete but the index is ripe for a correction at a larger degree. Any comments ?
