CNXSMALLCAP trade ideas
Nifty SmallCap - Long Way to GoNifty Small Cap is still almost 50% down from the high of Jan 2018. Its facing short term resistance in the trend line. Some of the small caps have shown signs of recovery. The index will try to scale back to previous high of 2018 in coming years. Choose a good smallcap with healthy balance sheet and undervalued. Many small caps P/E are available from 8-15. Ride the upcoming rally once the trend line is broken.
CNX SMALL CAPS displaying strength, capable of 10% move here!CNX Small Cap Index registered a decent close above all major pivots. Also RSI is now displaying bullish momentum with MACD comfortable into bullish zone. Small Caps stocks are expected to outperform the overall Nifty index in the coming quarter.
NITY SMALL CAP VIEWNIFTY SMALL CAP 100 - Start keeping an eye on these... INDEX speaks more thing on larger view...
On verge of the breakout.. Next week it will give confirmation..
They have been into some decent correction but now they have started finding some good support.
In this case,0.786 came as the final support which is holding the INDEX and so it has started making the base around that area.
Start keeping an eye on these.
Hope this information helps.
Cheers!!!