BSE SMALLCAP INDEX BREAKING DOWNbse small cap index was taking support at these support lines but in the recent fall the ame has been broken pointing to a larger downturn as per me.
SMLCAP trade ideas
Small Cap index broken the medium term trend line supportSmall Cap index has given breakdown of medium term support. let see how it pans out..
Monthly / weekly closing is important to watch..
Small Cap has broken the medium term trendSmall Cap has broken the medium term trend.. trading below the medium term trend line and touched 30 weeks moving avg and bounce back in last week. However, 30 week moving avg has been flattening out... coming week and month end closing is important for small cap trend... my small cap/large cap ratio also not favoring small cap index...
Time to be cautiousThe market has made higher highs, but a divergence in relative strength is seen.
Looking the base count as well, there is a time to cautious, meaning we must scale back our exposure or start taking profits.
On the other side, a weaker market presents the opportunity to identify the leading stocks.
Smallcap rally End here After strong extend move in smallcap stocks finally near to end this rally ..may be take couple of days or week
nifty small cap index fib retracementlong uptrend has healthy retracement. nifty sall cap index has very long trending move with some distribution or retracement evident.
BSE Small Cap support Zone rangeBSE Small Cap is near Long term support Zone range....Lets see, whether how much time it spent in this zone....
break levelBSE small Cap is showing great weakness and unfolding the gain of the rally which had started since 2014
BSE Small Cap index if not stop may further breakChart reflect that BSE small cap index has been in negative territory since Jan 2018 and may be reaching at crucial support level so if it does not hold then 500-600 point further breakdown cant be ruled out
BSE SMLCAP LongLooks like it is almost finished with the accumulation period and getting out of it.
We have been accumulating for almost 6-7 months. And it seems like now it's time to fly.
It making higher lows under resistance, and consistently making attempts to break 200 MA.
