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OVERBOUGHT MIDCAPS AND SMALLCAPS


OVERBOUGHT MIDCAPS AND SMALLCAPS


NIFTY MIDCAP 100:
As per the Weekly chart formation we have witnessed strong uptrend in Nifty Free Float Midcap 100 (Midcap100) from the level of 13650 to 18462. The current weekly chart structure is showing tiredness from past two - three weeks.

After long uptrend we saw first profit booking near recent high and last week Midcap100 Index closed negative by 300 points on weekly basis. The momentum indicators are suggesting overbought chart structure and on weekly basis Midcap Index has broken long term trend support which is caution sign for long holders in coming period.      

We at team NTDTRADING.IN expecting healthy correction in Midcap 100 index in coming period. At current we on first week of correction in Midcap 100 index.

As per Fibonacci Retracement following are the levels

RETRACEMENT LEVELS FROM 13630.58 To 18514.96
Retracement Level 23.6 @ 17362.25
Retracement Level 38.2 @ 16649.13
Retracement Level 50.0 @ 16072.77
Retracement Level 61.8 @ 15475.84
Retracement Level 78.6 @ 14671.50

RETRACEMENT LEVELS FROM 11168.86 To 18514.96
Retracement Level 23.6 @ 16781.28
Retracement Level 38.2 @ 15708.75
Retracement Level 50.0 @ 14841.91
Retracement Level 61.8 @ 13975.07
Retracement Level 78.6 @ 12740.92


Nifty Free Float Midcap 100(RetracementChart)



Nifty Free Float Smallcap 100(RetracementChart)

NIFTY SMALLCAP 100: Even in Small cap 100 Index we have witness tiredness. Last week we saw Small cap 100 index has filed to make fresh high and has broken last two weeks low. The weekly long term chart of Small cap 100 Index is formation ascending channel from lower level of 4200 to upside 7600. The momentum indicators are showing negative diversions on every fresh high, which is caution sign for coming period.

As per Fibonacci Retracement following are the levels

RETRACEMENT LEVELS FROM 5449.86 To 7689.53
Retracement Level 23.6 @ 7160.97
Retracement Level 38.2 @ 6833.98
Retracement Level 50.0 @ 6569.70
Retracement Level 61.8 @ 6305.41
Retracement Level 78.6 @ 5929.15

RETRACEMENT LEVELS FROM 4214.66 To 7689.53
Retracement Level 23.6 @ 6869.46
Retracement Level 38.2 @ 6362.13
Retracement Level 50.0 @ 5952.09
Retracement Level 61.8 @ 5542.06
Retracement Level 78.6 @ 4958.20




(May 20,2017)

























Disclaimer:All information given here is largely based on technical analysis which is highly dynamic in nature and relevant only at a particular point of time. Users are advised to pursue these recommendations only at their own risk and first consult their personal investment advisor when making investment decisions. We are not liable and we take no responsibility for any loss that you incure by trading/investing on our recommendations. these study are posted for educational purpose only.

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