NIFTY 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.
NIFTY 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 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 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 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 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.
Nifty small cap has broken monthly support but, holding support near Fibonacci levels near 6000.
If small cap goes below 6000, chances of downfall of more 1000 points, which is next Fibonacci levels.
At upside if there is any upward movement, small cap has next support near 7200.
But RSI levels still unable to break the support, so the chances of downfall is more.
CNX SMALLCAP 7666
Volatility contraction pattern seen.
Looking for a move towards 7780.
A move above 7800 could be very positive as it would be crossing 200 day MA.
Time to go long on small cap scrips that pass the trend template and that exhibit patterns (VCP, Cup & Handle, W, Pole and flag, etc).
i will wait for july/ august for taking any major long position ,
any buy should be taken with strict stop loss
indicator shows this wll be a turning point but still wait for few days.
