If this index is observed, price has taken support of 23.6% Fib level of pullbacks twice after significant rise since 2020. Currently price is near the 261.8% Fib Level (15259.65) drawn between Jan 17 '22 top to Jun 20 '22 bottom So far price couldn't break that resistance. Feb 5th and Apr 8 in weekly chart. Last 4 days in daily chart also isn't convincing....
Expecting a move of about 12% to the all time high, in the near term, with a downside risk of about 23%. If my perspective changes or if I gather additional fundamental data that influences my views, I will provide updates accordingly. Thank you for following along with this journey, and I remain committed to sharing insights and updates as my trading strategy...
Small cap Index is facing heavy Sell offs. Expecting the price to show a small pullback and continue moving down. It might test the FVG (14278 - 14495) before making further LL's.
The Nifty 50 opened at 22,432.20 against the previous close of 22,335.70 and fell 1.9 per cent to hit its intraday low of 21,905.65. The index closed with a loss of 338 points, or 1.51 per cent, at 21,997.70.As many as 43 stocks ended in the red in the Nifty 50 index, with shares of Power Grid (down 7.07 per cent), Coal India (down 7 per cent) and Adani...
NIFTY BANKNIFTY view on daily timeframe, Keep Your trading simple....
nifty small cap past 6 month respect 20 sma as support , when this moving avg sector closing below , its red alert for small cap rally
Bearish Butterfly In Nifty Smallcap 250 Sell PRZ - 11320/11632 SL - 11901 Target - 10240/9900
Market seems to take support at righ long term support lets see how it goes..... more clarity to come in next couple of weeks
In the chart, the orange line shows Nifty 50's move viz a viz the Small Cap index. Both seem to move in tandem Nifty Has given a bullish reversal today - so I'm expecting Small caps to tag along and break the previous ATH.. already it has formed an inverse HnS of sorts! Hold on to your seat. 2022 looks pretty interesting! Cheers! George
9150-9250 is the immediate and strong support ,once this support breaks SMALL CAPS WILL BLEED LIKE ANYTHING !!!!!
NIFTYSMLCAP250 this is early sign of weakness cmp 8725 I am hopeful for 8175 if 8650 is broken with strength