Breached but did not close below 50EMACNXSMALLCAP went below 50EMA but closed above. Needs to bounce back from these levels otherwise the other major support near 8500 levels. Minor suppports at 9400 and 9200.
CNXSMALLCAP trade ideas
smallcap is retesting small cap gave multiyear breakout now it is testing its breakout level. it may go above or side ways as indicated in picture.
#CNXSMALLCAP verge of giving a fresh breakou#CNXSMALLCAP, Small cap index on verge of giving a fresh breakout over ATH, Weekly closing of index above 9700 shall confirm the breakout. Once done out performance in small cap stocks can be seen. Index has Fibonacci targets of 13500 and 19800 on long term
Nifty Small Cap - Time to not miss this oneSmall Cap - Index rallied big time in last one week. its monthly RSI also closed above 60 last month. It is looking to break out of 7600-7800 resitance zone. If it does this month above it we can see a big dash towards its All Time High. Even if it falls and bounces back from 6600-6800 zone, we still might have our BIG SMALL CAP Rally ON!.
DISC: Not a SEBI Registered. I post charts for my own study.
Nifty Smallcap 100 Index - Breakout - Possible targets 7600/7730Nifty Smallcap 100 Index seems to have broken out based on the above trendline - Possible targets are 7600 and 7730.
Smallcaps remain at riskNifty Smallcap 100 remains at risk, stuck below resistance near 4700 but well above support at 2700. Long-term 4700 is the level that matters. If we’re below that, then downside risk remains elevated.
Nifty Small Cap Update - Be Prepared to SIP MoreNifty Small Cap Index has broken a 11 Year TrendLine. 5100 crucial and if it slips it can go to 4590 also. So be prepared to SIP more in Small Cap Index Fund. Make it Large as once it bounces it will be sharp and will last for another 11-18 months. The Current small cap massacre is the longest period of breakdown.
Small Cap - Down but Not OutSmall cap index is down still below the Mukti year trend line... need another 300 points more to come out and sustain....See the beauty of Dojis reversals at most bottoms...
Nifty Small Cap View1) Reversed from fib levl
2) Bearish Wolfe wave
Could lead to dragging market southwards
NIFTY Smallcap 100 Index - Simplistic ViewNIFTY Smallcap 100 index has closed above its 200 day moving average for the first time in nearly 11 months.
Today's closing is at 6653.
200 Day Simple Moving Average is at 6638.
Support are currently at 6630, 6580 and 6515.
Resistance levels are 6840, 6900, 6950 and 7000.
A daily close above 7000 could really put the bulls in the front seat.
Technical View - NIFTY Smallcap 100 IndexNIFTY Smallcap 100 index has near-term resistance in the zone of 6615-6645. The index has faced tough resistance for a few trading sessions around these levels.
200 Day Simple Moving Average is at 6642.
200 Day Exponential Moving Average is at 6639.
A daily close above 6645 would be positive.
NIFTY Smallcap 100 - Technical ViewNIFTY Smallcap 100 has near-term resistance in the zone of 6625-6665.
200 Day Simple Moving Average is at 6663.
200 Day Exponential Moving Average is at 6643.
A daily close above 6663 would be positive.
NIFTY Smallcap 100 - Technical ViewNIFTY Smallcap 100 has resistance in the zone of 6620.
A closing above that, will be positive.
A daily close above the 200 SMA level which is currently at 6683, will confirm that a bottom has been made and may turn the smallcaps bullish in the medium term.
Resistances are currently at 6620/6900
Support is in the zone of 5680-5660.
NIFTY Smallcap 100 may turn bullish above 6710.NIFTY Smallcap 100 has resistance in the zone of 6540-6570.
A closing above that, will be positive. A daily close above 6710 will confirm that a bottom has been made and may turn the smallcaps bullish in the medium term. 200 SMA level is at 6707 as of now.
Resistances are currently at 6545/6570/6710.
Support is in the zone of 5680-5660.
Positive RSI Divergence on SmallCap 100 IndexPositive RSI Divergence on SmallCap 100 Index. Some bounce expected.
Resistance is at 6555 and 6950. Note that 6555 is also the 200 MA on weekly.
Slightly Risky buy on a closing above 6555. Possibly safe to buy on a closing above 6950.
Downside can possibly accelerate towards 5400 if 5650 is broken. Huge downside possible below 5400.
