Small cap sector took support and zooming upSmall cap sector took support and zooming up.
is it a up rally or relief rally?..time will tell
CNXSMALLCAP trade ideas
expected moves for smallcapsby seeing charts it is clearly visible that bear strength is reducing so we can expect this carnage in smallcaps to be completed in near term. I have posted some similar setups in my previous posts which have been successful so expecting the same in smallcaps fingers crossed
Small Caps Have Likely Bottomed Out Here. CNXSMALLCAPOn the weekly chart.
-Breaking out of a falling wedge.
-Bounced off a strong resistance.
-Bounced off 0.618 Fibonacci retracement.
-Bullish divergence on Stochastic.
On the daily chart.
-Bullish divergence on the RSI.
-Bullish divergence on Stochastic.
-Bullish divergence on MACD.
-Bull cross on MACD.
Nifty SML100 - viewsOn 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!
most of the sectors looks bullish in short to medium termAfter 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 uptrend.
SMALLCAPINDEX : Will the previos tops give a nice supportSMALLCAPINDEX : 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
CNXSMALLCAPCNX Smallcap has given the breakout from previous High, And also from Trendline Resistance.
Remain positive till it does not close below 8200
CNXSMALLCAP - Has it completed a larger degree wave ? 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 ?
