NIFTYMIDCAPSELECT: Thy name Suggests
While we spent time in understanding the NIFTY and BANKNIFTY, we are now delving into the midcap nifty.
What is interesting is that the correction if we assume will unfold into five waves (else the recent low becomes end of three waves (low probability)). That suggest, there is door open for further softer bias in this one relative to other indexes.
In otherwards this will lead the other indexes if down more down if up more up, dice is towards down.
10730-10830 is the range to work to start with, close above 10860 closes the probability of the five way or one has to wait for the markets to work for you than push one's thoughts.
Suffice to say the rise gets sold than bought! Stay in the middle than Meddle!
What is interesting is that the correction if we assume will unfold into five waves (else the recent low becomes end of three waves (low probability)). That suggest, there is door open for further softer bias in this one relative to other indexes.
In otherwards this will lead the other indexes if down more down if up more up, dice is towards down.
10730-10830 is the range to work to start with, close above 10860 closes the probability of the five way or one has to wait for the markets to work for you than push one's thoughts.
Suffice to say the rise gets sold than bought! Stay in the middle than Meddle!
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