CNXSMALLCAP trade ideas
Head and Shoulders @ Nifty Smallcap IndexBe Cautious Head and Shoulders pattern (trend reversal) at Nifty Smallcap 100 Index weekly chart.
The head and shoulders pattern is believed to be one of the most reliable trend reversal patterns. It is one of several top patterns that signal, with varying degrees of accuracy, that an upward trend is nearing its end.
ONLY FOR #educational
NOT SEBI REGISTERED. #LEARNEARN (DONT TRUST ANYONE)
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nifty small cap index 05-03-20220
by study it means whenever price is 55-62 % distance of 200 weekly moving average, correction happen it revert to its mean. 200 weekly moving avarage.
so 7800-75000 would be good area to add more in small cap mutul fund. and there would be time wise correction 6 month to 3 year at least.
Nifty Small Cap ahead of budget week CHART -> Nifty Smallcap WEEKLY SETUP
Except few countable shares, most of the market is Small and Mid cap, one should also keep Nifty Smallcap chart in radar, which have seen a massive rally in 2021.
10,540 levels seems weekly support from which, last week also it bounced back.
Disclaimer: This is for educational purpose only. This is not any recommendations. I am not SEBI registered. Please consult your financial advisor before taking any action.
NIFTY SMALLCAP MAKE OR BREAK LEVELSNifty 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.