NIFTY MIDCAP - SHORT TERM RESISTANCENifty Mid cap Index has been in Downtrend from January 2018. Many Midcaps have recovered with a V shape recovery. They are facing a short term resistance which if it clears, they will continue to rise to previous high. Hence hold on to your Mid caps and keep adding more once the breakout happens.
Overall Mid caps are healthier because of their attractive valuations. Many mid caps P/E are below 20 and try to choose a undervalued mid cap which is debt free.
Trade ideas
MIDCAP MANIA MIGHT COME TO A TEMPORARY HALT!!!Midcaps have had a smart up move since the past fortnight and the Midcap index has reached a level where in it had faced resistance and went through distribution and gave way. Today at the day's close, it reached the same level and formed a Doji kind of pattern which indicated indecisiveness. The Rsi has reached a level where in a pullback on the downside might not be ruled out. Also on MACD , as it is a lagging indicator you might see it converging on the down side in the days to come.
There is a possibility the index might move up a bit or stay sideways but a lot of Midcaps gave way in today's trade and that could be an indication of things to come.
Be safe , book your profits!
MidcapThe Nifty midcap50 trading near support on daily chart last time also bounce from this level and now again Midcap index can bounce from 4,300 level. Midcap near support this is good for Index but Nifty and Banknifty not near support this can cause of downside in midcap. Midcap can break these support if Nifty try to catch support. Midcap index facing resistance at level 4,700-4,600 level.
The nifty weekly chart has strong support at level 4,100 and this level will be the most important level for midcap if index break this level we can see another 10-20% fall in the midcap sector. Currently Midcap have range 4,200-4,800 level.
Why U Need Professionals & You should not be experimenting One can look the pattern repeats it self and no need to explain much
Professionals tend to take note of every detail when they look in the charts and also Fundamental , They tend to have Knowledge of On Going issues and relationship with Scrip based valuation and de-valuation , Most enter to stock market to make money but when they starts seeing the Money is Going out , then they starts experimenting with some free Knowledge available in the internet , then they start gain & lose , when they Gain they take higher risk of losing , eventually then start loosing in smaller , smaller value with higher in time duration , that means they will lose same 100 $ in the place of day they will lose it over a month , but they never understand the Professional Work is very intense and involves hard core understanding of Market ,
it does not mean professional will not do mistake , they too do errors , but there is always a way out form the errors and with calculated risk
Market repeat it self , You might have herd form me saying this 1000 Times , because its fact , what changes is people in the participants change , few people go out of business and few new people come in to business , what will never change is Professionals will always make money
So Keep Looking for Good set up and repeating pattern , be in the direction of the trend and make money
Good Luck