NIFTY_MID_SELECT trade ideas
NIFTY MIDCAP SELECTHello and welcome to this analysis
The index has formed a Bearish Harmonic Deep Crab in the weekly time frame. It is currently in the PRZ zone of 9050-9400.
As of now its not showing any sign of weakness. If it starts sustaining below 9050 the bearish structure would get activated for 8600/8250. There is resistance between 9200-9250. One should wait for confirmation of weakness then look to exit longs and/or fresh shorts.
Fresh aggressive trading inside the PRZ should be avoided either side.
All the best
Midcap expiry setup 19th July 2023 (SL Hunting levels)Midcap has pending move on the downside at 8200 level. It can gapup and takeout the today sellers on the top and start SL hutting for the buyers which is available upto 8200 level from last Thrusday/Friday session.
Sell below 8389 target 8369,8354,8338,8321,8308,8278,8228, 8200
Buy above 8400 target 8428,8448