NIFTY midcap index has hit trendline resistance of 2008 -2018. after touching these levels in the past the small cap index has corrected very sharply. one should book profits and lighten their positions. the RSI has also reached close to 80 levels on the monthly charts. it indicates it has been overbought
Nifty smallcap has hit the trendline of 2008 and 2018. after touching these levels in the past the small cap index has corrected very sharply. one should book profits and lighten their positions. the RSI has also reached close to 80 levels on the monthly charts. it indicates it has been overbought.
The MIDCAP 100 Index has touched a decade old trendline, in the past 3 instances since 2008 whenever this trendline is touched the index has gone for a long and sharp correction. It would be ideal to book some profits and wait for correction to deploy capital later.
After poor results Maruti has fallen from recent highs and is at a strong support zone. Short term correction seems to be over. A good buy at this level.
Sail is given a weekly and monthly chart breakout. It has broken highs of 10 years. Apart from that a falling wedge resistance is also broken. It should sustain the upmove. Target 150 then 180
After V shape recovery in the index, it was time for some weekly consolidation. After few weeks of consolidation the small cap index is ready for a breakout. May hit ATH. It had constantly under performed nifty and nifty midcap. Time for some strong action in daily weekly and monthly charts.
The BSE metal sector has hit a 12 year old trend line. Historically this is the end of bull run in the cycle. But a strong breakout from this level will take it to ATH.
