BSE 400 MID SMALL CAP
Broad market is year to stay.
A breakdown on the trend can halt the current
Eventually aims moving higher
with volatility towards 2.618 and 4.272
levels as shown in chart.
NIFTY FEB- The fall has been retraced to 61.8% whereas Bank Nifty has crossed the recent high and Jan-March 20. Earlier relatively Bank Nifty Under performed to Nifty. It could be now Nifty under performed Bank Nifty.
NIFTY FEB sustain above the open and above 14398 to cross 61.8% level. If that happen then expect rise towards the 52 week peak and historical...
Breakout above the earlier contract peak and also above earlier historical peak formed in Jan-March 2020 quarter. Since the rise was large one should be open for intra-day correction if sustains below the open and below 33276-32313 zone. If sustains above the open and above 33485 then expect Bank Nifty Feb to continue the rise towards 1.618 of the fall from...
A correction of the rise from 7475 to 14772 is in progress.
The 23.6% is at 1300.
The last swing bottom was at 13131.
The 89 day ema is at 13130.
Friday bearish candle after testing the gap suggest that
near term reversal for pullback to start off will be above friday high.
Closing above friday high can mark a reversal
from current falling correction mode.
After 3 days on indecisive candle, friday candle was bearish suggest a near term correction or retracement of the last rising swing from 89.47 to 180.10.
A swing top based on the idea of lower high and lower low with bearish candle.
Expect the trend line to be tested and the 38.2% retracement 144.54.
Resistance will be at 164-169.
Better opening and intial rise...